In 2010, state, local and federal law enforcement began investigating Seattle financier Darren Berg, as his complex web of investment funds was exposed as a nearly $100 million dollar ponzi scheme.
VALID8’s co-founder Tod McDonald worked on the forensic accounting team appointed by the court to take control of Berg’s assets and attempt to unravel his web of deception. It was this complex criminal case, with hidden accounts, tens of thousands of transactions and an active effort by to continue the deception, that convinced Tod that new tools were needed to tackle these crimes.
Today VALID8 offers investigators of financial crimes and forensic accountants a powerful platform to rapidly turn financial records into intelligence, shining light on where the money went, but also providing investigators with lightning fast guidance on what additional records must be obtained in order to connect every dot and reconcile the financial statements down to the last penny.
Valid8 has partnered with forensic accountants, trustees and receivers, as well as state agencies and law enforcement investigators to use its platform in financial investigations.