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Forensic Accounting of MRI Business and Management Company

Accumyn’s forensic accounting analysis traced funds among two locations of a magnetic resonance imaging (“MRI”) business and its management company. The MRI business allegedly attempted to avoid paying its lease obligations for one of its locations because of poor performance. Each location was a separate legal entity, but they were being managed and operated as a single business enterprise by a management company. One entity was receiving a disproportionate amount of the scanning revenue from its management company, while the other entity was being charged a disproportionate amount of the fixed asset costs for assets that were being shared among the two entities such as computers, printers, software, faxes and telephone systems. Accumyn was able to identify factors such as common ownership, common management, common employees, common record-keeping, centralized accounting, paying expenses for one another, and sharing expenses. Accumyn then prepared a comprehensive analysis of each entity’s books and records including historical transactions, fixed asset schedules, personal property tax renditions, and income tax returns.