Legal Guide

Duncan Levin on Crippling Corporate Fraud Cases

Fraud accusations is a serious issue for corporations across the world. Recent statistics suggest that nearly 50% of companies will experience corruption, fraud, and economic crime each year. While the figure has dropped in recent years, corporations should go above and beyond to protect themselves from untrustworthy partners and employees to avoid accusations.

One case of fraud can lead to severe repercussions for the healthiest of businesses, companies, and individuals. In dire situations, it could cause bankruptcy. Even when the accused is prosecuted, there is no guarantee that the company will be able to recover fully from the damage.

Duncan Levin, of Levin & Associates, PLLC, fully understands fraud accusations and charges better than anyone. It may be possible to take steps to safeguard your company. Duncan Levin specializes in anti-fraud and anti-money laundering, to help protect businesses.


Fraud can happen to any business. The German electronic payments company, Wirecard, is one of the many corporations to fall prey to fraudsters. Over the last 20 years, the company seemed to grow steadily. However, there were many misconceptions in the books. When auditors scoured through the corporate books, they found a hole that totaled nearly $2 billion.

Surprisingly, the money did not exist. CEO Markus Braun was arrested because it was believed that someone had been falsifying the financial records. Two days later, the company declared insolvency. The German regulators had to take steps to prevent this from happening again.

Duncan Levin recommends thorough audits and extensive pre-employment checks as these can make a big difference in the long run. Companies should take these steps and more to reduce the risk of long-term, financial and brand name damage.

Luckin Coffee

Luckin Coffee is one of the most notable fraud cases in recent years. The company went public in May 2019 with an IPO price of $20. By January 2020, its stock had climbed to $50. Unfortunately, it would later be revealed that the start-up company wasn’t growing. An internal investigation found that individuals within the company had made up roughly $310 million in sales in 2019.

This was done by selling vouchers in bulk to companies that had ties with the chairman. It was also alleged that the company had created a fake employee to buy approximately $140 million in raw materials. Due to the problem, the company’s stock dropped to $1.39.

Duncan Levin recommends that all companies properly secure their IT infrastructures. A secure IT system can help protect the company from internal fraud.

Wells Fargo

Wells Fargo is likely one of the biggest names to have their reputation damaged. The company, as a whole, got into trouble for creating fake accounts using the names of its customers. When someone opened a bank account, their details were used to obtain cards with the bank without the customer’s knowledge or permission.

The fraudulent activity led to the company being fined $3 billion by the SEC. Furthermore, the revelation has destroyed the reputation among consumers. Wells Fargo has a long way to go to recover from the fraud.

Thanks to years of practice and unmatched expertise, Duncan Levin is equipped to help businesses through accusations and charges of fraud.

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