Steve specializes in forensic accounting, economic damages, fraud investigation, business valuation and transaction advisory services. He assists clients by offering tailored solutions designed to objectively analyze data and quantify the economic value associated with an unprecedented event.
Clients often seek his guidance on complex commercial contract disputes, systems and internal controls assessment, internal investigations, partnership and shareholder disputes, corporate malfeasance, marital dissolution and family disputes, insurance claims, post-acquisition disputes, IP infringement, economic damages, earning loss calculations, accounting irregularities, professional liability claims, and bankruptcy/insolvency matters.
With more than 35 years of professional experience, Steve has either prepared or evaluated numerous financial accounting, insurance claim and economic analyses, business valuations, feasibility studies, fairness opinions, and solvency analyses. In addition, he has investigated matters involving D&O, employee dishonesty and white collar fraud. A sought-after expert witness, Steve has testified at trial, arbitration and at deposition in matters
related to accounting, economic damages, fraud investigation and business valuation. He has also served as a court-appointed neutral expert. Steve has also taught Fraud and Forensics at Georgetown University.
Steve began his career at a Big Four accounting firm where he performed financial and operational audits of Fortune 500 companies. He has since served in executive and practice leadership positions at top-tier litigation consulting and valuation services practices. Before joining GlassRatner, Steve formed Wolf Forensics he spent six years as the national partner in charge of the forensic accounting and commercial disputes practice of a top-25 international public accounting firm based in the United States.
As a CPA and MBA he also holds several professional designations and certifications including Certified Fraud Examiner (CFE), Certified in Financial Forensics (CFF), Accredited in Business Valuation (ABV) and an Accredited Senior Appraiser (ASA) in business valuation.
Also, Steve has consistently been recognized by the South Florida Legal Guide as a Top CPA and Litigation Support Professional (2017-2022) and was recently chair of the FICPA committee for forensic, litigation and accounting services (FLVS). Over the years he has been asked to speak on topics including business valuation, fraud, and forensic accounting at professional conferences and academic institutions. He also was formerly an adjunct lecturer of accounting at Georgetown University McDonough School of Business located in Washington, D.C.
- Commercial Litigation
- Financial Damages
- Forensic Accounting & Financial Investigations
- Fraud Investigation
- Family Law
- Transaction Disputes
- Trustee, Monitoring & Receivership
- Valuation
- Assisted counsel in a lender liability action to calculate economic damages associated with creditors alleged wrongful conduct in accelerating loan default on commercial real estate due to technical default.
- Calculated the economic loss on behalf of a certified class of hundreds of New York Life Insurance Company brokers due to alleged unauthorized changes in its employee retirement benefits plan. Developed an employee benefits calculator designed to calculate the economic difference in dollar value between the original retirement benefits plan and the revised retirement benefits plan. Relevant factors include employee years of service credit, age at date of employment, historical income level, retirement age and inflation index.
- Provided multi-year forensic accounting analysis of medical practice operations to debunk allegations of corporate theft and embezzlement by its Chief Financial Officer. Our forensic analysis assisted the parties reach a settlement agreement.
- Performed expert consulting services on behalf of one of the largest assisted living, skilled nursing, home care and rehabilitation providers in the Southeast in connection with the Federal Government’s Health Resources and Services Administration’s Provider Relief Funding stemming from payment of COVID relief funds subject to audit.
- Provided forensic accounting analysis stemming from allegations of real estate management company’s accounting practices and mismanagement as fiduciary of homeowner’s association (HOA) assets.
- Evaluated the adverse economic impact and collateral damage resulting in a corporate bankruptcy of a multi-location outpatient healthcare facility. Issues stem from alleged creditor misconduct and wrongful inducement of debtor to secure financing under unfair credit practices of lender.
- Analyzed loan and credit practices of failed credit institution to evaluate the corporate policies and creditor lending practices of loan originators and corporate executives.
- Performed a forensic accounting analysis as a Court appointed neutral expert to analyze a waterfall calculation related to workers compensation medical claims. This matter required an extensive analysis of financial records to effectively reconcile transactions.
- Assisted ERISA Plan members determine their economic damages due to investment advisors alleged failure to properly adopt and implement the investment strategy set forth in the ERISA investment policy statement.
- Assisted international timeshare developer lenders that provided purchase financing to owners to calculate the economic impact to its business due to alleged tortious interference and false advertising claims resulting in greater than expected customer account default rates.
- Performed an equitable distribution and business valuation analysis involving family dispute and assisted parties identify and reconcile assets.
- Assisted a litigation trust to determine economic damages from asbestos product liability claims. Assignment was to estimate future claims and establish reasonable reserves for the trust.
- Acting as a neutral forensic accountant on behalf of a family estate for the trustee and temporary guardian to analyze financial transactions, develop a cash-basis sources and uses analysis and identify potential irregular activities.
- Performed an internal investigation on behalf of a leading national healthcare outpatient rehabilitation provider to determine the facts stemming from a multi-year financial misstatement and alleged earnings management scheme perpetrated by senior corporate officers. Allegations included wrongdoing and piercing of the corporate veil and directors and officer’s liability. Analysis included reviewing financial documents, conducting interviews, evaluating internal controls and accounting systems, reviewing e-mails, and determining possible causes of action for potential recovery. An integral component of this investigation was analysis of the payer mix and capitation rates.
- Assisted SE Regional public hospital analyze potential economic damages attributed to an alleged breach of contract of a subcontractor and medical supplies vendor involving allegations of fraud and overbilling. Analyzed contract compliance and competitive bidding practices.
- Led a world-wide team of forensic accountants analyze the financial accounting of one the world’s leading medical diagnostics companies involving intellectual property. The matter involved the calculation of economic damages resulting from underreporting of product sales and resulting royalties due to licensor of patented technology.
- Quantified the economic damages of a leading South Florida based sports nutrition drink brand associated with alleged intellectual property infringement and loss of goodwill.
• Assisted the board of directors of several hospitals in Pennsylvania and Ohio investigate alleged medical billing irregularities involving unbundling of CPT codes as recommended by an outside consultant. - Performed numerous forensic white-collar crime accounting investigations from suspected embezzlement by corporate officers or employees. The investigations involved forensic examination of corporate books and records, sales and vendor contracts, bank statements and tax returns. In each case, the forensic analysis provided a factual accounting of fraudulent or suspicious transactions perpetrated by the employee. The findings were later used to terminate and prosecute the officer and employees.
- Calculated business interruption loss and provided expert testimony for the largest airport retail concessions operator in the United States for losses incurred after the September 11th, 2001 terrorist attacks. The losses were attributed to the governments civil authority order that prohibited access to airports. This matter was the first ruling from a federal court granting coverage under an insurance policy for business interruption losses sustained at airports nationwide in the wake of the September 11th terrorist attacks. This analysis required calculation of business interruption at approximately sixty airports containing hundreds of retail concessions. This analysis was used to effectively settle the valuation dispute after expert testimony was offered.
- Evaluated and critiqued alleged lost profits and extra expenses of an acute care hospital located in Louisiana, stemming from the aftermath of Hurricane Katrina. The analysis included assessment of the institutions.
- Prepared property damage, extra expense and business interruption insurance claim for race-track casino and hotel located in the Gulf Coast from the aftermath of Hurricanes Rita and Katrina.
- American Institute of Certified Public Accountants (AICPA)
- Association of Certified Fraud Examiners (ACFE)
- American Society of Appraisers (ASA)
- Florida Institute of Certified Public Accountants (FICPA)