Frank McGuire is a director in the Washington, D.C. office and is part of the Disputes and Investigations practice. Frank has more than 19 years of experience in calculating economic damages and providing expert witness services, forensic accounting and fraud investigations, auditing and tax consulting.
Frank has substantial experience in commercial damages matters, conducting complex financial analyses and preparing expert reports for a variety of disputes including lost profits/breach of contract, securities litigation, lost earnings of persons, valuations, patent infringement, royalty audits, government contractor disputes, abusive tax shelters, FINRA disciplinary proceedings and business interruption insurance claims. Frank has been qualified and testified as an expert economic witness in Federal Court and in arbitration proceedings.
Key litigation experience highlights include:
- Preparing a rebuttal analysis for a government-sponsored enterprise in an $800 million dispute involving the originator and servicer of residential mortgage loans;
- Leading a team preparing a rebuttal analysis of alleged accounting improprieties by corporate executives in a $16 million white collar criminal defense matter;
- Preparing a lost profits analysis for a major health plan in a $36 million breach of contract arbitration with a provider group;
- Contributing to a damages analysis for a utility company in a $300 million breach of contract dispute;
- Participating in the quantification of damages for a manufacturer in support of a $500 million business interruption insurance claim;
- Preparing lost profits and/or reasonable royalty damages analyses in a variety of patent infringement matters involving products such as DC/DC power converters, paint stripping/lead abatement systems and a fluid management technology for slide preparation in medical labs;
- Preparing a report on behalf of the United States Department of Justice quantifying both lost compensation and the terminal value of a business venture in a $26 million wrongful death case.
Frank has also conducted numerous forensic accounting investigations in matters involving improper revenue recognition, fraud and/or embezzlement, as well as investigations related to Section 10A of the Securities Exchange Act.
Key forensic accounting investigation experience highlights include:
- Leading the forensic audits of campaign finances for candidates in the 2010-2011 International Brotherhood of Teamsters (IBT) International Officers Election, on behalf of the United States Department of Justice;
- Leading a team contributing to the securities litigation investigation of an international grocery chain, resulting in a $900 million restatement of earnings related to unearned vendor rebates;
- Conducting an investigation into the questioned expenditure of more than $70 million in Federal Medicaid and Welfare funds by a state Department of Health and Human Services;
- Leading an investigation that uncovered a near $1 million embezzlement perpetrated by the Finance Director of a large state teacher’s union.
Frank received his B.A. in Economics from the University of Connecticut and his B.S. in Accounting from Eastern Connecticut State University.