A banking expert witness works on behalf of banks, insurance companies, investment firms, or law firms and testifies to help determine accountability and liability in various situations. An expert’s involvement can be invaluable in the following circumstances.
Consumer Lending Disputes
Experts who have experience interpreting loan agreements and practices can evaluate disputes between lenders and borrowers to determine if either has made false claims or intentionally provided misleading information creating a financial burden for the other. For example, bank experts who know how to interpret mortgage contracts or appraise real estate can detect red flags on loan agreements.
A witness’s testimony can shed light upon the professional obligations of corporate leadership, non-profit board members, or foundation stewards whose negligent actions lead to their organizations’ financial harm. Experts can also determine the extent to which recovery may be possible and offer potential solutions to undo the damage.
Businesses often fall prey to internal criminal activity. Most fraud, including embezzlement and other forms of theft, go undetected when perpetrators pose as loyal employees. An expert witness knows how to recognize signs of criminal activity in bank records, receipts, and ledgers through inconsistencies, duplications or other data irregularities.
Illegal Banking Practices
Complex banking laws can be misinterpreted easily or manipulated for illegal practices. A banking expert witness can explain rules to juries tasked with determining if an individual or an entity is guilty of fraud. Testimony may involve piecing together various bits of information necessary to support or dispute allegations.
Elder Financial Abuse
Banking experts can help secure criminal convictions of individuals attempting to steal seniors’ assets. They may point to conflicting banking patterns that may be difficult for others to discern.
Banking expert witnesses provide essential services to help shed light on nefarious activities that can severely damage the finances of organizations and individuals.