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Forensic Analysis Resolves Multibillion-Dollar International Acquisition

FTI Consulting was engaged to assist in a high-stakes international arbitration involving allegations of financial misrepresentation and corruption following a multibillion-dollar acquisition in Brazil. The U.S. buyer claimed the Brazilian seller engaged in systemic accounting fraud and bribery to inflate the transaction value and obtain public contracts. A cross-jurisdictional team of FTI Consulting experts from the United States and Brazil was retained by the Brazilian seller’s international legal counsel to investigate these claims and provide independent analysis to inform counsel’s defense strategy.

Our Impact

The parties entered early mediation and avoided a lengthy arbitration due to FTI Consulting’s independent forensic analysis.
Our experts reframed the narrative in the client’s favor, dismantling key allegations by uncovering the actual business purpose and legitimacy of high-risk transactions.
Legal counsel secured an approximately 83% reduction in the proposed settlement, driven in part by the strength and clarity of our findings.
The analysis not only preserved significant value but also helped the client overcome what had become a significant personal crisis and disruption to investment activities.

Our Role

FTI Consulting mobilized a cross-border team of bilingual forensic accountants, investigators and business intelligence specialists to address the complex financial misconduct and corruption allegations.
Our experts reviewed thousands of transactions — originally in unstructured PDF formats — and transformed them into analyzable datasets to uncover patterns and validate business justifications.
We conducted interviews in Portuguese with senior leadership and key personnel, ensuring cultural fluency and contextual accuracy throughout the investigation.
We compiled our findings into authoritative, well-supported reports that were submitted to the International Chamber of Commerce arbitration panel, providing legal counsel with robust and defensible evidence to support their arguments on both liability and damages.