Christiana Zouzias, CPA
Zouzias & Zouzias
CERTIFICATION
Mediation
Training, DePaul University, 2005
Business
Valuation Market Approach 203, American
Society of Appraisers, 2003
Business
Valuation Income Approach 202, American
Society of Appraisers, 2003
Business
Valuation Fundamentals, 201, American
Society of Appraisers, 2002
Certified Public Accountant, 1989
EDUCATION
Bachelor of Science
in Commerce (Accountancy), DePaul
University, 1988
RANGE OF EXPERIENCE
Ms. Zouzias
has over 15 years experience providing comprehensive financial analysis in
collaborative and traditional divorce settings as well as other litigation
support services. She provides
financial fraud investigations, business valuations, commercial litigation damage
analysis, and other forensic accounting services to attorneys and their
clients.
Business Valuations and Litigation Consulting
As a litigation consultant, Ms.
Zouzias has managed a variety of business valuation and commercial litigation
engagements including breach of contract, shareholder dispute, fiduciary
self-dealing, retaliatory discharge and business interruption, as well as
patent infringement and trade secrets litigation. She has testified as an expert with respect to damages, lost
profits, and self-dealing in business interruption, shareholder dispute, and
guardianship cases. She has assisted
counsel in providing litigation management including discovery, document
management, deposition and cross-examination assistance, and preparation of
trial testimony and trial exhibits.
Financial Fraud
Ms. Zouzias has also managed financial fraud investigations and
quantified embezzlements via payroll fraud, cash/check substitution schemes,
account receivables lapping/hiking, misappropriation of funds, collusion, bank
fraud, financial statement misrepresentation, corruption, self-dealing,
licensing revenue misstatements, and other accounting irregularities. She has performed fraud and licensing revenue
investigations for biotechnology, manufacturing, insurance, retail, and various
service clients. Ms. Zouzias has assisted organizations in operational and
financial risk management analysis and internal controls development and
implementation. She has identified the
underlying weaknesses in internal controls creating the opportunity for
dishonest acts, analyzing risk tolerance, and developing solutions to manage
and curtail risk. Ms. Zouzias designs
and presents continuing education seminars in the prevention and detection of
financial fraud for the Illinois CPA Society.
PROFESSIONAL AND BUSINESS
HISTORY
Zouzias &
Zouzias, Inc.
Principal,
1993 – Present
NAI Hiffman and Grubb & Ellis
Commercial Real Estate Advisor, 2006-2010
Intercap Consulting, Inc.
Director, 2000-2001
CCC Information
Services
Accounting
Manager, 1992 – 1993
PriceWaterhouseCoopers
(formerly Coopers & Lybrand)
Staff Accountant to Senior
Staff Accountant, 1989 – 1992
PROFESSIONAL ORGANIZATION
MEMBERSHIPS AND ACTIVITIES
- American Institute of Certified Public Accountants
- Illinois CPA Society (Consulting Services Executive Committee, Litigation Consulting
Committee Chairwoman)
- Collaborative Law Institute of Illinois, Fellow Member
- Collaborative Law Institute of Illinois -- Task Force for Training
- International Academy of Collaborative Professionals, Fellow Member
- Illinois CPA Society Women's Executive Committee
SPECIFIC SERVICES AND EXPERIENCE
FORENSIC ACCOUNTING & ANALYSIS
- Traced the source and use of funds for a $75
million estate, establishing the propriety of trustee’s transactions. Financial analysis model was successfully
utilized in Probate court to refute self-dealing charge against trustee.
- Investigated and analyzed a breach of fiduciary
duty by the Director of Finance of a large foreign distributor of heavy
equipment. Identified conflict of
interest and self-dealing indications, interviewed key witnesses, guided a
forensic computer investigation, and quantified estimated damages. Suspect confessed
to altercation and reimbursed company for a portion of the stolen funds. Estimated diverted funds totaled over
$350,000.
- Investigated and analyzed a breach of fiduciary
duty by the Managing Director of a Not-for-Profit organization. Identified conflict of interest and
self-dealing indications, interviewed key witnesses, and analyzed the source
and use of funds of the agency. Suspect
placed under further investigation by governing body.
- Investigated and analyzed the activity of a
Controller for a multi-million dollar gaming facility. Traced the source and use of receipts and
bank deposits, analyzed fraudulent accounting transactions, interviewed key
witnesses, and quantified estimated damages.
Suspect confessed to altercation and reimbursed company for a portion of
the stolen funds. Obtained out-of-court
settlement from external auditor’s negligence and obtained maximum policy
limits from insurance carrier. Losses
exceeded $2 million.
- Investigated and analyzed the activity of a
Purchasing Manager for a multi-million dollar corporate incentives
company. Analyzed purchasing and
inventory activity and fraudulent accounting transactions. Interviewed key witnesses, and quantified
estimated damages. Suspect confessed to
altercation and reimbursed company for a portion of the stolen funds. Obtained policy limits of $1 million from
insurance carrier.
- Investigated and analyzed the activity of a Broker
for a multi-billion dollar national insurer.
Analyzed source and use of premiums and quantified damages. Suspect charged and convicted for
theft.
-
Investigated and analyzed the activity of the
Controller for a fish distributor.
Analyzed source and application of accounts receivable, altercated bank
deposits and bank statements, and fraudulent accounting transactions. Interviewed key witnesses and quantified
damages. Suspect confessed to
altercation and case was referred to Chicago Police Department.
-
Investigated and analyzed the transactions and
activity of a Nursing Home Consultant in a marital dissolution case. Analyzed and traced thousands of
transactions for over thirty-five checking and brokerage accounts. Identified missing funds, unrecorded
transactions and source and uses of funds of over $1.5 million.
BUSINESS VALUATIONS
- Performed the valuation of an $8 million precision
metal machine shop producing connectors, customized components, and
hydraulic/pneumatic components for Original Equipment Manufacturers.
- Performed the valuation of a $12 million healthcare
practice specializing in radiology services including MRI, mammography,
ultrasound, nuclear medicine, and CAT scanning.
- Performed the valuation of a $1 million
manufacturers’ representative selling seasonal items to large, national retail
chains.
- Performed the valuation of a $120 million household
furnishings distributor.
- Performed various valuations of professional
service practices.
- Performed the valuation of a $2.5 million
manufacturer of gauges and other components utilized in high-end racing boats.
- Performed the valuation of a $150 million
investment advisory services firm.
- Performed the valuation of three investment
companies with investments in bonds, stocks, REIT’s, and operating companies
having a combined investment value of over $49 million.
- Performed the valuation of a $4 million aftermarket
auto parts manufacturer.
- Performed the valuation of a $3 million home
remodeling construction company involving three divisions including a kitchen
and bath retail store, remodeling construction services and stone shop.
- Performed the valuation of a $1.5 million custom
women’s apparel manufacturer and affiliated women’s apparel retail store.
- Performed the valuation of a $900,000 window latch
assembly service provider.
- Performed the valuation of a government pension
plan. Testified at trial as an expert
witness.
ECONOMIC DAMAGES
- Assisted Plaintiff’s counsel in determining lost
profits for a billion-dollar pharmaceutical company resulting from a patent
infringement. Assisted in the
preparation of a damage model calculating the pharmaceutical company’s lost
profits, and analyzing the opposing expert’s damage calculation. Damages approximated $900 million.
- Assisted Plaintiff’s counsel in determining
estimated damages for a start-up biotechnology company attributable to the
Defendants’ theft of trade secrets.
Responsible for preparing a damage model calculating the lost profits,
analyzing the opposing expert’s testimony, and assisting counsel with the
deposition of the opposing expert.
Damages approximated $250 million.
- Assisted Plaintiff’s counsel in calculating lost
profits of a securities broker resulting from corporate raiding by a
competitor. Responsible for preparing a
damage model and calculating lost profits. Damages approximated $1.5 million.
- Assisted Defendant’s counsel in defending charges
of self-dealing in a guardianship suit. Responsible for preparing a financial
model delineating sources and applications of estate funds. The financial model was used at trial,
successfully refuting Plaintiff’s claim of self-dealing.
- Assisted Plaintiff’s counsel in calculating lost
profits resulting from a shareholder dispute of a provider of auto-relocation
services. Responsible for preparing a
damage model, calculating lost profits, analyzing opposing expert’s damage
calculation, assisting counsel with the deposition of the opposing expert, and
testifying as an expert witness.
Damages approximated $150,000.
Parties settled out-of-court for $100,000.
-
Assisted Defendant’s counsel in defending a
business interruption claim resulting from an accident involving a trucking
company and a chemical plant.
Responsible for analyzing opposing expert’s damage calculation,
assisting counsel with the deposition of the opposing expert, and testifying as
an expert witness. Alleged damages were
$500,000. Parties settled out-of-court
for $30,000.
-
Assisted Defendant’s counsel in defending a fraudulent
misrepresentation and breach of contract claim resulting from a defective
breathing air gas compressor unit.
Responsible for analyzing opposing expert’s damage calculation,
preparing a rebuttal report, alternative damage models and assisting counsel
with the deposition of the opposing expert.
Alleged damages were $8,000,000.
-
Assisted Plaintiff’s counsel in calculating damages
caused by wrongful termination of a securities broker. Responsible for analyzing commissions and
salary trends, industry and economic data, investment vehicle trends, and
deferred compensation arrangements for a large brokerage services provider and
prepared damage calculation. Alleged
damages were in excess of $2,000,000.
Parties settled out-of-court.
ADDRESSES AND PUBLICATIONS
"Forensic Accounting Case Studies," presented at
the Federal Financial Institutions Examination
Council’s, Advanced White Collar Crime Conference, Washington D.C. -
2000
"Red Flags of Financial Fraud," presented at the
Illinois CPA Society, Chicago, IL – 2001, 2002
"Interviewing Techniques," presented at the
Illinois CPA Society, Chicago, IL – 2001, 2002
" A Career in Forensic Accounting," presented at
DePaul University as a panel discussion member, Chicago, IL – 2002
"Corporate Governance and Internal Controls," presented at Loyola University Graduate School of Business, Chicago, IL
- 2002
"Fraud 101:What Should I be Looking For?", "Practice
Advantage Newsletter," Illinois CPA Society, Vol.1 No.12, November 30, 2002, 2003 Economic Crime
Summit, National White Collar Crime Association.
"Doing Your
Job: Asking the ‘Tough’ Questions. How to Elicit Information and Assess
Truthfulness." "Practice Advantage Newsletter," Illinois CPA Society, Vol.
1, No.14, January 15, 2003, 2003 Economic Crime Summit, National White Collar
Crime Association.
"A Case Study
in Financial Fraud Analysis:
Embezzlement and its Subtle Trail", presented at the Corporate
Center for Financial Leadership, Illinois CPA Society, Chicago, Glenview,
Oakbrook – IL – 2003.
"Internal Controls and the Finance Function", presented at Northwestern University, Kellogg School of Management, Evanston,
IL – 2004.
"How to
Prevent and Detect Fraud", presented at the Trends in Corporate Finance
Conference for the Center for Corporate Financial Leadership, Illinois, Indiana
and Missouri – 2004.
"Preventing and Detecting Fraud Workshop," Scrutinize and Reduce Your
Exposure, presented at United Community Bank, Hinsdale, IL –
2004
"Collaborative Law Overview," Litigation Support Conference, Illinois
CPA Society, Chicago, IL – 2004
