Certified Fraud
Examiner, 1994
EDUCATION
Juris Doctor,
Bachelor of Science in Accountancy,
PROFESSIONAL AND BUSINESS HISTORY
Gould & Pakter Associates, LLC
Managing Member, 2004 to present
Russell Novak & Company, LLP
Partner, 1998 to 2004
Partner, 1996 – 1998
Altschuler, Melvoin and Glasser
Senior Staff Accountant to Senior
Manager, 1984 – 1996
Peat Marwick & Mitchell
PROFESSIONAL
ORGANIZATIONS
Gastro Intestinal Research Foundation, Member of Board of Directors
Illinois CPA Society, Vice Chairperson, Member of Board of
Directors 2004 through 2006, Member and Prior Chair of the Consulting Executive
Committee, Member of 2001 through 2005 Business Valuation Conference Task Force,
Member of 2005 Family Law Conference Task Force, , Member of Business Valuation
Special Interest Group
American Institute of Certified Public Accountants
Association of Certified Fraud Examiners
American Society of Appraisers, Candidate Member
American Bar Association
Illinois State Bar Association
Page Two
Mr. Gould
has over 25 years of experience and specializes in performing valuations of
closely held businesses, financial damages determination and forensic
accounting investigations.
Mr. Gould
provides business valuation and business valuation consulting services to trial
lawyers and their clients. He performs
business valuations for estate and gift tax purposes, family law matters,
shareholder dissent and oppression litigation and buy/sell agreements.
Mr. Gould
performs lost profit and financial damages calculations in commercial
litigation matters including breach of contract and business interruption
claims. He has provided litigation consulting
services in a variety of industries including manufacturing, distribution,
retail, construction, financial services, professional service corporations and
real estate.
He performs
forensic accounting analyses to assist in locating unreported or hidden assets,
determining the source of funds used to acquire assets, determining the
reasonableness of contract and/or project related costs and investigating
claims of misappropriation.
Mr. Gould
also designs and presents continuing education programs for the American
Institute of Certified Public Accountants, the Illinois CPA Society, the
Chicago Bar Association, the American Bar Association and law firms.
Mr. Gould’s
professional profile describes certain representative engagements completed in
the following areas:
Business
Valuations
Value businesses for estate/gift tax purposes, matrimonial
dissolution proceedings, shareholder dissent/oppression litigation and buy/sell
agreements
Economic
Damages
Damage measurement and financial analysis, including lost
profit calculations, breach of contract damage measurement and professional
liability claims
Forensic
Accounting and Financial Analysis
Assist in locating unreported and/or hidden assets,
determining source of funds used to acquire assets, determining reasonableness
of contract and/or project related costs and/or investigating claims
Page Three
BUSINESS VALUATIONS
·
A $50 million manufacturer and distributor of premium
appetizers, finger foods, caramel-based products and ice cream in connection
with the consolidation of the minority shareholders and purchase of key officers’
life insurance.
·
The common and preferred stock of a $100 million
distributor of plumbing, heating, ventilation and air conditioner parts and
equipment for estate and gift tax purposes.
·
A company in bankruptcy, to determine whether funds
contributed by certain shareholders in connection with a merger represented
reasonably equivalent value, pursuant to the United States Bankruptcy Code.
·
A merger transaction within one year of the
bankruptcy filling by the combined entity to determine whether the purchase
price paid for the acquired entity was less than its fair market value.
·
A minority investment in an acquisition corporation
that owns and operates restaurants to determine its value for acquisition
purposes.
·
A controlling interest of a $35 million plumbing
contractor in a shareholder oppression matter.
·
A controlling interest of a $75 million manufacturer of retail and liquid
food products for the food industry for a family law services matter.
·
A mortgage banker with a loan-servicing portfolio in
excess of $1 billion for a family law services matter.
·
A specialty product manufacturer that was allegedly
forced into bankruptcy due to the misrepresentation by its corporate counsel in
a legal malpractice matter.
·
Manufacturers, retailers, distributors, contractors,
professional service organization, real estate holding companies and other
privately held corporations for family services matter.
Page Four
ECONOMIC DAMAGES
Mr. Gould
provides consulting and expert witness testimony for trial lawyers to assist
them with damages measurement and financial analysis. He specializes in lost profit calculations,
breach of contract damage measurements and professional liability claims. His experience includes trial testimony and
alternative dispute resolution.
Representative engagements include assisting counsel in:
·
Preparing
a damage model calculating the supplier’s lost profits, analyzing the opposing
expert’s damage calculation, assisting with cross-examination of the opposing
expert and providing testimony at an International Chamber of Commerce
Arbitration representing a Fortune 500 client in determining the damages
sustained by its European supplier in a breach of contract action.
·
Determining
the lost profits resulting from a competitive securities brokerage dealer’s raid
of its employees and clients. National
Association of Securities Dealers arbitration representing a securities brokerage
dealer.
·
Determining
lost profits in an action alleging a vendor’s failure to timely and effectively
secure cell phone sites necessary to launch cell phone service in new market
areas. The claim alleged costs to
complete and costs paid for incomplete work.
·
Estimating
lost profits and out of pocket expenses attributable to defendant’s intentional
interference with plaintiff’s prospective opportunity to develop a parcel of
real estate.
·
Rebutting
the damages in a fraudulent misrepresentation and breach of contract action
alleged by the purchaser of a manufacturer and distributor of safety equipment
resulting from an effect in the design of certain products. Responsible for analyzing opposing expert’s
damage calculation and preparing a rebuttal analysis.
·
Calculating
lost profits attributable to defendant’s misappropriation of trade secrets, breach
of fiduciary duty to shareholder’s of a close corporation and usurping
corporate opportunities in the operation of an ethnic fast food restaurant.
·
Calculating
lost consulting service fees attributable to defendant’s breach of contract and
tortuous interference with an existing contract.
·
Determining
the damages sustained by a competitive securities brokerage dealer’s
interference and employment of its bond trading group. An American Arbitration Association
proceeding representing a securities brokerage dealer. Damage model calculated the dealer’s lost
profits resulting from the departure of the bond trading group, analyzing the
opposing expert’s damage calculation and testifying at arbitration.
·
Calculating
lost profits in an action alleging breach of express warranties and breach of
implied warranty of fitness for purpose arising from the deficiencies in the
machinery purchased from a supplier of machine material handling
equipment. Responsible for preparing a damage
model calculating the buyer’s lost profits, analyzing the opposing expert’s
damage calculation and assisting counsel with the deposition of the opposing
expert.
Page Five
FORENSIC ACCOUNTING & FINANCIAL ANALYSIS
·
Tracing the source of funds used to establish
investment and brokerage accounts and to purchase certain business investments
and real estate holdings during the pendency of a long-term marriage to
determine the character of those assets for matrimonial dissolution purposes.
·
Investigating and analyzing the investment activity
of a $50 to $75 million investment portfolio to assist counsel in determining
the propriety of the investment manager’s portfolio reporting, management and
segregation of funds and assets.
·
Investigating and analyzing international real estate
holdings and transactions. Responsible
for coordinating
·
Investigating and analyzing the accounting books and
records prepared by a business manager responsible for all financial aspects of
a web based design company pursuant to a business consulting agreement to
determine the adequacy and accuracy of those books and records.
·
Performed a financial and business analysis of
financial and strategic information to disclose any inaccuracies and/or
misleading information provided in connection with the acceptance of a lease
deferral agreement by the lessor of aircraft.
·
Analyzed and reviewed certain financial transactions
for the purpose of tracing the funds withdrawn and deposited into certain brokerage
accounts to determine whether the transactions were in adherence to the terms
of an antenuptial agreement.
·
Analyzed the source of funds used to acquire certain
shares of a privately held business during the pendency of the marriage to
assist in the determination of the character of those assets for martial
dissolution purposes.
·
Determined annual cash flow and the excess or
deficiency of the anticipated cash flow compared to the lifestyle expenses of
the parties for marital dissolution purposes.
·
Performed an analysis of divestiture and
restructuring initiatives of a fortune 500 company for the purpose of analyzing
the financial condition and results of operations of the holding company after
the implementation of the initiatives in order to determine its ability to satisfy
its on-going product liability obligations.
Page Six
ADDRESSES AND PUBLICATIONS
“Business
Valuation – A Case Study: The Mechanics
of the Valuation Process and Its Practical Applications”, presented
to E.C. Ortiz & Co., LLP – 2007
“Forensic
Accounting”, presented to the Northbrook CPE Group – 2007
“Business
Valuations – The Basics”, presented to the
“Business
Valuation – A Case Study: The Mechanics
of the Valuation Process and Its Practical Applications”, presented
to the Illinois CPA Society Chicago Metro Chapter – 2006
”Goodwill
– Are We Any Closer To Understanding Its Meaning”,
presented at the Illinois CPA Society’s Family Law Conference – 2006
”Understanding
Financial Statements”, presented at Chicago Bar Association Continuing
Legal Education Forum – 2006
“Business
Valuation – A Case Study: The Mechanics
of the Valuation Process and Its Practical Applications”, presented
to the Illinois CPA Society North Shore Chapter – 2006
“Financial
Statements: Finding the Red Flags”, presented to the Chicago Bar
Association Young Lawyer’s Section of the Family Law Committee – 2005
“Business
Valuations – The Basics”, presented to the
“Avoiding
Tax Return Fear in Matrimonial Matters”, presented at the Chicago Bar
Association Young Lawyer’s Section of the Family Law Committee – 2005
“Damages: Shareholder Dispute”, presented
at the Illinois CPA Society’s Litigation Support Conference – 2004
“Understanding
The Use of Forensic Accounting to Trace Funds in Marital Dissolution Matters”,
presented at 2004 American Bar Association Section of Family Law Fall Committee
& Continuing Legal Education Conference – 2004
“Preparing
To Buy Or Sell A Closely Held Business”, presented on behalf of Lorman Educational
Services – 2004
“Understanding
Financial Statements- A Financial (Mis)Statement Case Study”,
presented at Chicago Bar Association Continuing Legal Education Forum – 2004
“Business
Valuations: The Income Approach and How to Challenge It”, presented
to the DuPage County Bar Association Family Law Section – 2004
Page Seven
ADDRESSES AND PUBLICATIONS (continued)
“Common
Mistakes in Divorce Valuations”, presented to the Cook County Bar
Association Family Law Section – 2004
“The Use of
Forensic Accounting to Trace Funds in Dissolution of Marriage Cases”, presented
at the Illinois CPA Society’s Fraud Conference – 2003
“Understanding
Financial Statements”, presented at Chicago Bar Association Continuing
Legal Education Forum – 2003
“Hot Topics
and Current Trends in Business Valuation”, presented at the Illinois
CPA Society’s Business and Technology Solutions Show – 2002
“Understanding
Business Valuation”, presented at the Illinois CPA Society North Shore
Chapter‘s Education Forum – 2001
“Practicing
Your Skills as a Financial Expert Witness: A Mock Trial”, presented
at Loyola University School of Law for Illinois CPA Society – 2001
“Financial
Statements - What They Can and Can’t Tell You”,
presented at Office of the Inspector General – Chicago Public Schools – 2000
“Valuation Issues in Divorce Settings”,
presented for American Institute of Certified Public Accountants: Certificate
of Educational Achievement Program – 1999
“Financial
Statements - What They Can and Can’t Tell You”,
presented at Chicago Bar Association Continuing Legal Education Forum – 1999
“Unraveling
the Mystery of
“Review of
Expert Reports of Lost Profits in Commercial Litigation”, presented
to D’Ancona & Pflaum – 1998
“Financial
Statements - What They Can and Can’t Tell You”,
presented at Chicago Bar Association Continuing Legal Education Forum – 1998
“The CPA -
Valuator - Expert Witness”, presented for American Institute of Certified
Public Accountants: Certificate of Educational Achievement Program – 1998
“The
Mechanics of Quality Report Writing”, presented for American Institute
of Certified Public Accountants: Certificate of Educational Achievement Program
– 1998
“Hot Topics
and Current Trends in Business Valuation”, presented at the Illinois
CPA Society’s Business and Technology Solutions Show – 1998
Page Eight
ADDRESSES AND PUBLICATIONS (continued)
“Due
Diligence: Make or Break Considerations in Evaluating Companies in the Plumbing
Industry”, presented at the Plumbing Industry Mergers and Acquisition
Forum – 1998
“Review of
Expert Reports in Labor Litigation”, presented to Laner Muchin
Dombrow Becker Levin Tominberg, Ltd. – 1998
“Fraud and
the Audit Process”, presented at
“The
Financial Shenanigans of Confree Manufacturing”, presented
at LaSalle Bank N.A. – 1998
“Introduction
to Financial Analysis”, presented at CNA Insurance Systems and Financial
Training Forum – 1998
“Advanced
Financial Analysis: Business Valuations”, presented at CNA Insurance
Systems and Financial Training Forum – 1997
”Financial
Statements - What They Can and Can’t Tell You”,
presented at Chicago Bar Association Continuing Legal Education Forum – 1997
“The F
Word Is Now Acceptable - A Look at SAS No. 82 - Considering Fraud in a
Financial Statement Audit”, presented at Illinois CPA Society Annual Financial
Institutions Conference – 1997
“Non-Traditional
Services - Consulting, Litigation and Assurance Services”,
presented at
“How Expense Reduction Services Can Bring
Value to Your Clients”, presented at National Council of Philippine
American Canadian Accountants Annual Convention – 1997
“Four
Phases of a Fraud Audit”, presented at National Council of Philippine
American Canadian Accountants Annual Convention – 1997
“Finding
the Pot of Gold Through Discovery: Personal Income Tax Returns”,
presented at Young Lawyers Section of The Chicago Bar Association Continuing
Legal Education Forum – 1997
“Intermediate
Financial Analysis”, presented at CNA Insurance Systems and Financial
Training Forum – 1997
“Introduction
to Financial Analysis”, presented at CNA Insurance Systems and Financial
Training Forum – 1997
“Accounting
for Impairment of Long-Lived Assets”, presented for Illinois CPA
Society at Dean Witter Annual Account Update – 1996
Page Nine
ADDRESSES AND PUBLICATIONS (continued)
“Using and
Misusing Financial Statements - Can You Trust the Financial Information you are
Given?”, presented at Chicago Bar Association Continuing Legal
Education Forum – 1996
“The CPA -
Valuator - Expert Witness”, presented for American Institute of Certified Public
Accountants: Certificate of Educational Achievement Program – 1996
“How
Accountants Can Work with Lawyers and Mediators to Help Settle Business
Disputes”, presented at Illinois CPA Society Midwest Accounting and
Business Management Show – 1996
“Fraud
Auditing and Forensic Accounting”, presented at Philippine
Certified Public Accountants of Greater Chicago chapter meeting – 1996
“Quality
Assurance: Maximum Effectiveness at Minimum Cost”,
presented at Illinois CPA Society Midwest Accounting and Business Management
Show – 1995
“Practical
Applications of Valuation Theory”, presented at the Illinois CPA
Society’s Annual Divorce Conference – 1995
“The CPA -
Valuator - Expert Witness”, presented for American Institute of Certified
Public Accountants: Certificate of Educational Achievement Program – 1997
“Taxation
and Accounting Issues of Divorce and Separation”,
presented on behalf of Illinois CPA Society Continuing Professional Education
Program – 1995
“Expert
Witness Testimony: How to Help Your Client”, presented at the Illinois
CPA Society’s Annual Divorce Conference – 1994
“Point/Counterpoint:
The Business Valuation Process”, presented at the Illinois CPA
Society’s Midwest Accounting Show – 1994
“Getting the Financial Edge”,
presented at Chicago Bar Association Continuing Legal Education Forum – 1994
“Tips for
Effective Case Administration, Deposition and Testimony”,
presented at the Illinois CPA Society’s Annual Divorce Conference – 1993
“Business
Valuations for Attorneys”, presented at Chicago Bar Association Continuing
Legal Education Forum – 1993