Ann Gittleman is a managing director for the Disputes and Investigations practice. Her practice is focused on providing expert forensic and dispute assistance in fraud, white collar matters, U.S. Regulatory investigations involving the Securities and Exchange Commission and Department of Justice, internal investigations, purchase price and post-acquisition disputes, international asset tracing engagements, controls review, Foreign Corrupt Practices Act (FCPA) reviews, accounting and auditor malpractice matters and related GAAP and GAAS guidance and damages. Ann additionally acts as a financial advisor in U.S. Bankruptcies and assists companies with complex accounting matters and financial statement restatements.
Based in New York, Ann has over 17 years of forensic accounting experience, during which time she led substantial international projects in the U.S., Europe, the Caribbean and China. Ann has been retained as a testifying expert in numerous matters, including those involving asset tracing, fraud and corruption, financial reporting, and the application of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards and damages. She also frequently consults on complex accounting reporting and SEC matters.
Ann joined Duff & Phelps with the acquisition of Kinetic Partners, where she was a director and co-head of the New York Forensic & Dispute Services practice. Prior to this, Ann was an attorney at a prestigious New York law firm practicing securities litigation and providing in-house forensic accounting consulting services. Previously, Ann was the in-house forensic accountant at the Office of the General Counsel at PricewaterhouseCoopers (PwC), working on auditor negligence matters. Immediately prior to that, she was an auditor in the alternative investment management group at PwC in New York City, where she audited hedge funds, venture capital funds, private equity funds and commodity pools.
Ann received her J.D. from Brooklyn Law School and her B.S./B.A. in both accounting and computer information science from Bryant University. She is a Certified Public Accountant, Certified in Financial Forensics, a Certified Insolvency and Restructuring Advisor and Accredited in Business Valuation. Ann is also a licensed attorney (admitted in both New York and Massachusetts) and a member of the American Institute of Certified Public Accountants, the Association of the Bar of the City of NY and the Association of Certified Fraud Examiners.
Financial Services Consulting
- Retained by a law firm to assist the directors in proving that an offshore hedge funds’ money was not hopelessly commingled with another U.S. based fund that was involved in a Ponzi scheme.
- Retained by the audit committee of a publicly traded company to assist with a five year restatement of its financial statements.
- Reviewed related party transactions and associated valuations in connections with an investigation of a REIT.
- Retained by the SEC to assist in an investigation of a REIT and conclude whether loans were being appropriately valued and revenue recognized in accordance with US GAAP.
- Retained by a law firm as a testifying expert to assist in the defense of a hedge fund manager against the SEC and DOJ.
- Performed investigation and detailed analysis of high risk international banking accounts to determine if potentially suspicious activity had occurred requiring reporting.
- Retained by the DOJ to act as a consultant on the financial services industry (specifically includes: insider trading issues, layering, spoofing, hedge fund industry, and private equity industry).
- Retained by counsel as the testifying expert in an earn-out dispute of an acquired company. Recalculated the income and cost from a key customer that is considered “lost revenue” to determine if the earn out of the acquired company was met or not.
- Retained by counsel as the testifying expert in a post-acquisition dispute to recalculate the target WIC and collars and recomputed the closing balance sheet.
- Retained by an insurance company to review and quantify the alleged damages in a claim made by a law firm for business interruption damages as a result of Super Storm Sandy.
- Retained by counsel to assist the testifying expert in the calculation of damages resulting from an alleged failure to sell thinly traded securities.
Forensic Accounting and Investigations
- Retained by counsel to perform an internal investigation of a Hedge Fund that provided film financing.
- Performed a large scale investigation to determine what happened to the Bear Stearns hedge funds that failed in mid-2007 and prepared a report for the liquidator on viable and colorable claims.
- Lead the forensic accounting work and acted in a forensic expert capacity on the Countrywide Financial Securities Litigation class action complaint.
Fraud and Misconduct
- Retained by counsel as a testifying expert to perform and testify on an asset tracing analysis to assist in defending a managing member of an investment manager against allegations of being involved in the improper diversion of company funds.
- Retained by a private equity fund to investigate one of their portfolio companies where the Chief Executive Officer was suspected of receiving corrupt payments from vendors and for improper expenses submissions.
- Retained by a private equity fund to investigate allegations of change order abuse and collusive bidding against the general contractor in a housing rehabilitation project in California.
US Bankruptcy & Offshore Liquidation Experience
- Retained as the testifying expert in a solvency case to review financial statements to determine the company’s solvency and ability to continue as a going concern.
- Retained by the Bankruptcy Trustee of a staffing company to investigate accusations of a scheme by the executives to create false employees and obtain kickbacks from contractors.
- Provided forensic accounting and financial advisory services in a $3.5 billion dollar Ponzi scheme – Thomas Petters.
- Retained by counsel to assist in preparing a securities class action complaint against the auditor of a mortgage bank.
- Retained by a hedge fund’s director as a testifying expert to perform an investigation into the adequacy of the auditors’ conduct.
- Retained by a SIPA Trustee to perform an investigation of the FCM’s auditor to conclude whether or not the auditors conduct was in accordance with GAAS.
- Certified Public Accountant (CPA)
- Certified in Financial Forensics (CFF)
- Certified Insolvency & Restructuring Advisor (CIRA)
- Accredited in Business Valuation (ABV)
- Admitted to Practice Law: New York State, Commonwealth of Massachusetts, United States District Court for the Southern and Eastern Districts of New York, District of Massachusetts, District of Connecticut
- Juris Doctor, Brooklyn Law School, Brooklyn, New York 2004
- Bachelor of Science in Business Administration, Bryant University, magna cum laude, Smithfield, R.I., 1999
- American Institute of Certified Public Accountants, Member
- Association of Certified Fraud Examiners, Member
- New York State Society of Certified Public Accountants, Member
- Fraud Investigations
- Forensic Accounting
- White Collar Criminal Fraud
- Commercial Damage/Lost Profits Analysis
- Bankruptcy Investigations
- Investment/Securities Damages
- International Investigations