Alexander Stankovic

A selection of Alexander’s prior engagements includes:

• Engaged by an international insurance broker to investigate suspected cases of overcharging by a recently acquired wholesale broker, affecting reinsurers, retail brokers, and insured entities in the Asian cedent market. Over 300 separate instances identified for investigation over a 10-year period. Investigation findings were reported to regulators and used for commercial settlement of repayment amounts to affected parties.
• Assisted the independent monitor of a global investment bank following various breaches of its Anti-Money Laundering and sanctions compliance, resulting in a three-year monitorship under a deferred prosecution agreement with the U.S. Department of Justice. Alexander was deeply involved in the Know Your Customer aspect of the compliance review, developing an understanding of existing policies and procedures, proposing remedial measures, and conducting testing of processes with bank staff to report on compliance and make recommendations on further enhancements.
• Following the collapse of a group of companies and trusts which were operating various financial advisory and investment businesses, over eight years of accounts were reconstructed for 20 entities and transactions between related parties analyzed to quantify losses to investors whose funds had been misused, totaling over AUD $30 million.
• Following the theft of critical materials for the operations of an ASX50 company throughout its supply chain spanning from Germany to Australia, investigated the theft, internal control weaknesses allowing the event to occur and advising on physical security enhancements and internal control improvements to reduce the risk of future instances occurring. The engagement involved managing cross border teams and engaging external service providers to provide specialist security solutions to a multi-functional senior leadership team from the client.
• In response to a warranties and indemnities claim by a construction company after the purchase of selected ongoing projects, investigated pre-deal due diligence to quantify the extent to which certain undisclosed information led to a change in asset valuation. As a result of this investigation, settlement was achieved for significantly less than the claim of AUD $10 million.
• Following the purchase of a retail chain of stores, the buyer identified a systemic issue in payroll systems, leading to an investigation into the extent of employee underpayments. The engagement required building a comprehensive model to capture complex and multi-jurisdictional employment laws and enterprise agreements, and in valuing the impact to the overall company valuation as at the time of the deal.
• Led the investigation of an employee in the China operation of an international chemical manufacturer who was alleged to have exploited their position to manipulate import prices, and skim profit on distribution. The fraud took place over eight years and was claimed to result in a loss of over USD $16 million.
• Led the investigation into alleged underpayments of intellectual property royalties over three years by a Taiwanese semiconductor manufacturer. The investigation included understanding policies regarding product segmentation and categorization within accounting software, and testing of procedures to correctly capture production and sales statistics to account for royalty liabilities.