Fraud Related Services for Construction Lenders
Construction lenders wanting a physical presence on the jobsite should contact Jerry Ipsen of Ipsen Due Diligence. Jerry is a Certified Fraud Examiner with a background in commercial real estate and construction fraud. Our unique fraud prevention program begins with a monthly 2 hour visit per project. Services include:
A jobsite visit
Meeting with employees and subcontractors who are present
Contacting equipment and material suppliers making inquiries into their billing processes and whether payments have been received in a timely manner
Speaking with the GC regarding the process of current applications for payment
The 2 hour Fraud Prevention Program is a inexpensive way of letting others know that dishonest acts will not be tolerated. Once subcontractors and material suppliers observe a Fraud Examiner onsite, they will understand the lender and project owner are serious about fraud prevention. In turn, the same subs and material suppliers will be less likely to submit fraudulent billings, false labor claims or substitute materials of lesser quality.
Your contract should have a “Right to Audit” clause that allows for closer scrutiny should suspicions arise.
Should you have any questions, please email Jerry Ipsen at email@example.com