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Curriculum Vitae

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Hinsdale • Chicago • Glenview

Christiana Zouzias, CPA, CVA

Zouzias & Zouzias


                 

CERTIFICATION

                                      

Mediation Training, DePaul University

Business Valuation Market Approach 203, American Society of Appraisers

Business Valuation Income Approach 202, American Society of Appraisers

Business Valuation Fundamentals, 201, American Society of Appraisers

Business Valuation and Certification, National Association of Certified Valuators and Analysts

Certified Public Accountant

Certified Valuation Analyst

                                              

EDUCATION

Bachelor of Science in Commerce (Accountancy), DePaul University

                                          

RANGE OF EXPERIENCE

Ms. Zouzias has over 20 years of 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 income analyses, 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 has designed and presented 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

Intecap 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

  • National Association of Certified Valuators and Analysts
  • American Institute of Certified Public Accountants
  • Illinois CPA Society (Women’s Executive Committee, Former Consulting Services Executive Committee and Litigation Consulting Committee Chairwoman)
  • Collaborative Law Institute of Illinois, Fellow Member
  • International Academy of Collaborative Professionals, Fellow Member

                                                                                                                                               


SPECIFIC SERVICES AND EXPERIENCE

Forensic Accounting & Income Analysis

  • Investigated the misconduct of a building department union employee for a Village in Illinois. Traced the actual permits applied for to the fees collected and recorded by the Finance department and computer system entries for a period of 3.5 years. Interviewed building department employees and software development employees. Identified numerous instances of altered building permits and computer system entry alterations. Findings report was successfully utilized in Arbitration to support the termination of a union employee.

  • 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.

  • Investigated and performed various income analyses for support purposes in marital dissolution cases.

  • Investigated and performed forensic analyses for various financial instrument traders.

  • Forensic analysis and tracing the source, use and return of funds, and reconciled various transfers, deposits, withdrawals, and expenses for a $7 million estate, establishing the propriety of trustee’s transactions and division of estate.

  • Analyzed, investigated and quantified assets, returns, income and lifestyle in a marital dissolution case of approximately $10 million involving an architectural firm, real estate developer and multiple real estate investments. Forensic analysis and tracing of thousands of transactions between various personal and business bank accounts, as well as real estate investments. Identified undisclosed investments, properties and returns on investment.

  • Forensic analysis and tracing the source, use and return of funds, and reconciled various transfers, deposits, withdrawals, and expenses for a $1 million estate, establishing the propriety of trustee’s transactions and division of estate.

  • Forensic analysis and tracing to identify and quantify thousands of possible dissipation transactions over a 4-year period, and parties’ income and lifestyle for a marital dissolution case.

  • Forensic analysis and tracing of income and thousands of transactions between various personal and business bank accounts for a marital dissolution case. Quantified income, lifestyle and possible dissipation.

  • Traced, analyzed and quantified retirement assets and historical growth in the retirement assets in a post-decree marital dissolution case.

  • Forensic analysis and tracing to identify and quantify business and individual income, lifestyle and retirement assets and possible dissipation for a marital dissolution case.

  • Forensic analysis and tracing of assets, income and returns over a 10-year period to determine ownership interest value, damages and income in a shareholder dispute case for a $5.5 million home healthcare company.

Business Valuation

  • Performed the valuation of a $1.5 million law practice.

  • Performed the valuation of a $31 million investment advisory firm.

  • 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 $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 $120 million household furnishings distributor.

  • 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 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 $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.

  • Performed the valuation of a $950,000 investment advisory firm.

  • Performed a valuation of a $650,000 independent insurance agency.

  • Performed a valuation of a $450,000 radio equipment company.

  • Performed a valuation of an $850,000 investment advisory firm.

  • Performed a valuation of a $1.1 million painting company.

  • Performed a valuation of a $1.4 million photography studio.

  • Performed a valuation of a $2.1 million pharmacy.

  • Performed a valuation of a $650,000 racehorse training company.

  • Performed a valuation for a $250,000 anesthesiology group.

  • Performed a valuation for a $1.6 million telecommunications consulting company.

  • Performed a valuation for $2.5 million ball bearing manufacturer.

  • Performed a valuation for a $6 million internet technology provider.

  • Performed a valuation for a $21.5 million medical digital technology firm.

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 analyzed 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 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 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 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

    “Paradigm Shift for a Financial Neutral,” presented at the Collaborative Law Institute for Illinois Basic Training, Chicago, IL – 2011

     “Business Valuations and the Collaborative Process,” presented at the International Academy of Collaborative Professionals International Conference, Chicago, IL – 2012

    “Forensic Accounting and the Collaborative Process,” presented at the International Academy of Collaborative Professionals International Conference, Chicago, IL – 2012

    “Financial Neutral Role,” presented at Illinois Institute for Continuing Legal Education, Chicago and Springfield, IL - 2012

    “Business Valuations, Discounts and Premiums,” presented at the Collaborative Law Institute of Illinois, Fellows Collaborative Skills Training, Rosemont, IL – 2013

    “Business Valuations, Income Determination and Double-Dipping,” presented at the Collaborative Law Institute of Illinois, Fellow Collaborative Skills Training, Rosemont, IL - 2013

    “The Financial Neutral & Business Valuations,” presented at the Collaborative Law Alliance Training, New Jersey - 2015

    “The Financial Neutral Role: Digging Deeper & Adding Value,” presented at the New Jersey Collaborative Law Group CE Session, Morristown, NJ - 2018



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