By Patrick Finn, CTP, Shareholder, Lighthouse Management Group Inc.
Unfortunately, theft from charitable organizations is neither rare nor insignificant. The Internal Revenue Service, which began collecting diversion data in 2008 from the larger nonprofits that are registered with the agency, reported that 285 diversions involving total losses of more than $170...
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Patrick Finn, CTP, is a shareholder of Lighthouse Management Group and has provided workout and advisory services to distressed companies and creditors for more than 20 years. He frequently serves as CRO or court-appointed receiver to restore financial stability, manage the sale or winddown of a distressed company, or investigate fraudulent activity. Recent engagements include recovering more than $91 million for victims of a $160 million Ponzi scheme. In addition to being a CTP, Finn is a Certified Fraud Examiner.
