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Basics of Accounting for Lawyers 2018


Speaker(s): Alexander M. Vasilescu, Colleen S. Vallen, John J. Carney, John J. Molenda, Ph.D., Karen Kincaid Balmer, Kenneth G. Yormark, Lisa M. Zarlenga, Matthew B. Greenblatt, T.C. Fleming, Tracy Richelle High
Recorded on: May. 17, 2018
PLI Program #: 219782

Kenneth G. Yormark is a managing director for K2 Intelligence, where he leads the U.S.-based forensic accounting team. With more than 25 years of experience, he is an expert in complex global investigations and forensic and investigative services. Ken manages and conducts high-profile securities fraud, anti-corruption/Foreign Corrupt Practices Act (FCPA), and Ponzi scheme investigations involving public and private companies in all industries around the globe. He presents to regulatory and law enforcement agencies, boards, senior management, in-house and outside counsel, and auditors.

Working with clients in the financial services, manufacturing, real estate, pharmaceutical, telecommunications, and not-for-profit industries, Ken focuses on formulating and executing strategies regarding forensic accounting, financial investigations, securities litigation, and anti-corruption risk assessments. He is accomplished at assessing the vulnerability and reconstructing internal controls, compliance procedures, and accounting systems. He regularly works side by side with law firms investigating allegations of corruption and bribery, corporate malfeasance, and “cooking the books.” He has been qualified as an expert and testified in deposition and at trial in federal and bankruptcy courts.

Ken is an adjunct professor at Georgetown University Law Center, where he teaches “Accounting for Lawyers.” He is also a faculty member of the Practicing Law Institute and an adjunct faculty member of the Association of Certified Fraud Examiners (ACFE). He speaks nationally on fraud and anti-corruption at conferences and corporate events.

Ken received his B.S. from Queens College and completed graduate studies at New York University in real estate development analysis. He is a Certified Public Accountant (CPA), a Certified Fraud Examiner (CFE), is Certified in Financial Forensics (CFF), and is a Certified Anti-Money Laundering Specialist (CAMS).


Alexander M. Vasilescu is the Regional Trial Counsel for the New York Regional Office of U.S. Securities and Exchange Commission, Division of Enforcement, located in New York City.  In that position, Alex oversees New York's Trial Unit, which consists of Alex, 13 Senior Trial Counsel, and 2 trial unit paralegals. Alex has led investigations and litigations involving violations of a wide range of securities laws. Most recently, Alex was part of the team that brought the cases against the Town of Ramapo and various town officials and the Town of Oyster Bay and various town officials involving municipal securities fraud and Billy Walters and Tom Davis involving insider trading.  Alex also brought the emergency case against Bernard Madoff and various enforcement cases against several employees of Madoff and the auditor for his firm.  Alex also won jury trials in both the Southern District and Eastern District involving insider trading and offering frauds as well as a federal court bench trial involving market manipulation and administrative hearings, including deceptive market-timing and late trading violations. Prior to joining the SEC, Alex was a litigation associate at the law firms of Paul, Weiss, Rifkind, Wharton & Garrison and Kramer, Levin, Naftalis & Frankel LLP. Alex received a B.A., cum laude, in Economics and International Relations from Tufts University, and J.D. from Cornell Law School.


John Molenda is co-chair of Steptoe's Healthcare & Life Sciences Industry Practice, is head of the Intellectual Property Practice for the New York office, and has served on the firm's Executive Committee. He focuses on patent litigation at the district court and appellate levels, opinions of counsel, due diligence, and post-grant proceedings, including inter partes reviews (IPRs) and reexaminations. He represents clients across technologies, including biotherapeutics (biologics), pharmaceuticals (Hatch-Waxman), biochemical research tools, genetically modified plants, medical devices, semiconductors, fiber optics, and computer software.

With respect to John’s appellate practice, he litigates regularly in the US Court of Appeals for the Federal Circuit, including briefing, oral argument, and complex motion practice. He has held substantial roles in over 20 Federal Circuit appeals, including arguing one of the first pharmaceutical-related IPR appeals. John is active in the Federal Circuit community, currently serving as a Vice Chair of the Federal Circuit Bar Association’s Bench & Bar Planning Committee. He has previously held leadership roles on the FCBA’s Patent Litigation, Legislation, and Rules Committees. Prior to private practice, he served as a Federal Circuit law clerk for the Honorable Alan D. Lourie.

With respect to his district court and IPR practices, John has served as lead or co-lead counsel in district court litigations across the United States and has played key roles in multiple trials, mediations, and Markman proceedings. At the same time, John routinely counsels clients on the strategic use of IPRs as part of litigation and settlement strategy, and has served as lead counsel in numerous IPR proceedings on behalf of both petitioners and patent owners. John has served as co-chair of PLI’s Fundamentals of Patent Litigation program since 2014 and speaks regularly about current topics and trends in IPR practice.

While John’s work encompasses a wide range of technologies, he has developed a particular expertise in the area of biologics and biosimilars. He currently represents two pharmaceutical companies in a case involving blockbuster biologics to lower cholesterol and is coordinating pre-litigation strategy and counseling for a global biosimilars program involving high-value monoclonal antibody and cytokine products. John has also led biologics teams conducting transaction-related diligence and pre-petition diligence in advance of IPR filings. He speaks frequently on recent developments involving biologics and biosimilars for organizations including ACI, World Congress, Knowledge Group, BIOTECanada, Canaccord Genuity, and the FCBA.


Lisa Zarlenga represents public and private companies on federal income taxation issues, with a focus on tax policy issues with respect to tax legislation and Treasury guidance as well as on corporate transactional and planning matters. Lisa serves as co-chair of Steptoe’s Tax Group and leads the firm’s tax policy practice. Drawing on her experience as Tax Legislative Counsel at the US Treasury Department’s Office of Tax Policy, Lisa marries substantive tax knowledge with strong relationships at Treasury and first-hand insights on the guidance and other processes at Treasury. She helps clients advocate for and resolve tax policy issues before the Treasury Department and IRS involving proposed and pending regulations and other administrative guidance, and before Congress involving legislation.

Lisa also advises clients on structuring tax-free and taxable acquisitions and dispositions, tax-free spin-offs, and internal restructurings, including providing opinion letters and seeking advance rulings from the IRS. She also assists clients in restructuring financially troubled businesses and advises on the special rules governing consolidated groups.

Lisa has combined her policy and transactional backgrounds to advise clients on tax issues relating to blockchain and digital currency. She advises clients on conducting digital currency transactions and conversions, token offerings, and different investment and entity structures. Her experience includes advising a coalition of the leading companies in the blockchain space that was engaging directly with the IRS and policymakers to develop workable policies at an industry-wide level.

As Tax Legislative Counsel at the Treasury Department, Lisa advised Treasury’s Assistant Secretary for Tax Policy on a broad range of domestic tax policy issues, including corporate, partnership, healthcare, tax-exempt organizations, energy, income tax accounting, estate and gift, and procedure and administration. She oversaw preparation of regulations and other administrative guidance implementing the Internal Revenue Code and the president’s annual revenue proposals in these areas.

Clerkship

• Hon. Robert P. Ruwe, US Tax Court

Education

• LL.M., Georgetown University Law Center, with honors, Taxation

• J.D., Ohio State University Moritz College of Law, Order of the Coif; Associate Editor, Ohio State Law Journal

• B.S., Ohio State University, summa cum laude, Beta Gamma Sigma, Accounting

Awards

• Fellow, American College of Tax Counsel

The Best Lawyers in America, Tax Law (2018)

Super Lawyers, Washington, DC, Tax (2017)

• Treasury Exceptional Service Award (2015), Special Act Award (2011)

• Washingtonian magazine, "Best Lawyers," Tax (2015, 2017)

Legal 500 US, Finance: Not-for-Profit, Nonprofit and Tax Exempt Organizations; Government: Government Relations; Tax: International Tax; Tax: US Taxes, Contentious; Tax: US Taxes, Non-Contentious (2016); Domestic Tax, East Coast (2009-2010)


T.C. Fleming is the Chief Financial Officer at 1010data, Inc., a fast-growing New York-based software-as-a-service company specializing in big data analytics. He has over 20 years of industry and corporate finance experience.

T.C.’s current role involves the oversight of financial accounting and reporting, taxation, budgeting and expense control, human resources, procurement, recruiting, office management and participation on the company’s management committee.

His experience spans numerous industries including technology, broker/dealers, depository institutions, energy (specifically independent power producers), manufacturing & distribution, environmental services, transportation, specialty finance, publishing and consumer retail.

Prior to joining 1010data, Inc., T.C. served as a senior advisor to the U.S. Bankruptcy Court appointed Examiner on certain financial issues arising from the Lehman Brothers’ bankruptcy. T.C. managed multiple teams of forensic accountants, systems analysts and financial analysts.

Previously, T.C. was a Senior Equity Analyst with an alternative investment fund focused on small- to mid-cap investments. Prior to that, T.C. spent 9 years working at Deloitte in the Special Transaction Services group serving the Texas Pacific Group. He was also a manager in the firm’s audit practices in Chicago, San Francisco, and London, where his clients included SEC registrants as well as privately held corporations in the Financial Institutions industry group.

T.C. regularly lectures on accounting and financial due diligence topics. In addition, T.C. has authored/co-authored articles published in The Daily Deal and Seeking Alpha.

T.C. received his M.B.A. in finance from New York University’s Stern School of Business and his BBA in accounting and computer applications (double major) from the University of Notre Dame. He is a certified public accountant licensed in the state of Illinois.


Tracy Richelle High is Deputy Managing Partner of S&C’s Litigation Group. Ms. High’s practice focuses on representing financial institutions and other corporations in complex civil litigation, internal investigations, and labor and employment matters.

Ms. High has also represented clients before a wide variety of regulatory and prosecutorial agencies, both at the state and federal levels, as well as Congressional committees, courts and independent examiners appointed by court order.

Internally, Ms. High serves as co-chair of the Diversity and Women’s Initiative Committees and one of S&C’s hiring partners. Ms. High also oversees S&C’s active networks for minority associates: the Asian Associates Network, the Network of Black & Latino Lawyers and the LGBT Network. Each of these groups is dedicated to enhancing the experience of S&C’s diverse attorneys and championing their retention and advancement by fostering professional development, networking and mentoring opportunities.

Externally, Ms. High is the Co-Chairwoman of the board of directors of the YWCA-NYC; a Vice Chairwoman of the Legal Aid Society and a board member of the Lawyers’ Committee for Civil Rights Under Law. She also serves on the Steering Committee of the Kate Stoneman Project, and is a Trustee of the Harvard Law School Association, New York City chapter.

Ms. High has been repeatedly recognized as an accomplished lawyer: New York Super Lawyers (2013-2018), National Law Journal Minority 40 Under 40, and recipient of The Network Journal’s 40 under 40 Achievement Award. Ms. High was featured in Savoy Magazine’s 2015 list of Most Influential Black Lawyers, and was named the 2015 Diversity Trailblazer by the New York State Bar Association (2015).


Colleen is a partner in the firm’s Valuation and Forensic Services practice and is based in the Philadelphia office. As an expert in the field of forensic and investigative accounting, Colleen has focused her attention on forensic and fraud investigations, the preparation of financial damage analysis and litigation support.

Colleen is highly experienced in the analysis, investigation and review of financial documents. Other responsibilities have included case planning and management, financial and economic analysis, expert report preparation, oral presentation of findings as well as assistance with discovery, interrogatories and depositions.

Prior to joining the firm she worked for a litigation consulting and a forensic accounting firm and with a Big 4 accounting firm as an auditor.

Colleen is an adjunct professor at Villanova Law School. She has been engaged by law firms, legal, banking and utility associations, insurance companies, and other associations to speak on a variety of topics, including business interruption, financial document analysis and fraud. Colleen has also provided continuing education to attorneys and individuals through various seminars, including a full day class on fraud geared to the banking industry.

Colleen earned a Bachelor of Science degree in Accounting from Rutgers University. Her education has been supplemented by various continuing education courses with an emphasis on fraud investigation, forensic accounting, financial analysis and business interruption. She is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA).


Matthew Greenblatt is a Senior Managing Director at FTI Consulting and is based in New York. Mr. Greenblatt has extensive experience in forensic accounting and internal investigations; auditing and accounting matters; litigation consulting; post- acquisition and shareholder disputes; and advising troubled companies.

Mr. Greenblatt has conducted multiple forensic investigations in connection with cases involving diversions of funds and fraudulent accounting activity by management and has been involved in several internal forensic investigations conducted on behalf of Audit Committees and/or Boards of Directors for both public and private companies. Mr. Greenblatt is currently managing a team of professionals and forensic accountants in connection with the firm’s retention by the court-appointed trustee under SIPA in the liquidation of Bernard L. Madoff Investment Securities.

Mr. Greenblatt has advised on cases involving various types of fraudulent activity, including several large Ponzi schemes; partnership disputes; lost profits; breach of contract claims; and accountants’ malpractice. Mr. Greenblatt has additional expertise with matters involving arbitration and mediation; bankruptcy reorganization; claims management; contract disputes; damages; directors & officers related claims; due diligence; expert testimony; forensic investigations; fraud and fraudulent conveyance; solvency and insolvency; trustee and examiner issues, and valuation.

Mr. Greenblatt has spoken on multiple panels in the area of forensic accounting and investigations and is an adjunct professor, teaching the course “Prevention and Detection of Fraudulent Financial Reporting”, a required course within the Forensic Accounting Program of New York University’s Finance, Law and Taxation Program of NYU’s School of Continuing Studies.

Prior to its acquisition by FTI Consulting, Mr. Greenblatt joined Kahn Consulting in June of 1998. Before that, Mr. Greenblatt was a Senior Auditor with Price Waterhouse’s Audit and Business Advisory Services Group.

Mr. Greenblatt holds a B.S. in accounting from Lehigh University. Mr. Greenblatt is a Certified Public Accountant and a Certified Fraud Examiner, and is Certified in Financial Forensics. Mr. Greenblatt is a member of the American Institute of Certified Public Accountants; the New York State Society of Certified Public Accountants; and the Association of Certified Fraud Examiners.


A former Securities Fraud Chief, Assistant United States Attorney, U.S. Securities and Exchange Commission Senior Counsel, and practicing CPA, John Carney is a seasoned advocate who represents regulated entities and public corporations—their officers, directors and employees—in SEC and criminal law enforcement investigations, as well as in related civil litigation. Utilizing his depth of experience in domestic and international regulatory and criminal enforcement matters and complex litigation, as well as his financial background, John is repeatedly retained by audit committees, corporations, and senior officers of major public companies to conduct internal investigations, to provide counsel during investigations, and to design remedial compliance and corporate governance measures. He regularly conducts investigations of possible FCPA violations and other potentially improper foreign country-based financial transactions, and works proactively with companies to structure and implement FCPA compliance programs.

Based upon his extensive trial experience and sophisticated advocacy in complex financial matters, John was recently nominated and named to the Securities Docket "Enforcement 40," a list of the 40 top securities enforcement defense lawyers in the country. He is ranked in Chambers USA: America's Leading Lawyers for Business and is also "Certified in Financial Forensics" by the American Institute of Certified Public Accountants. He is co-leader of BakerHostetler's national White Collar Defense and Corporate Investigations practice. John has lectured extensively at conferences and training seminars on topics such as FCPA, insider trading, securities fraud, and litigating complex accounting cases.


As a Certified Public Accountant, holder of the AICPA's Certified in Financial Forensics accreditation, a Certified Fraud Examiner and a Certified Forensic Accountant, Karen's areas of expertise include litigation services, generally accepted accounting standards, auditing standards compliance, fraud investigations, evaluation and implementation of internal controls, generally accepted accounting standards and international accounting standards. Karen has performed investigative and FCPA compliance work for more than twenty five years in numerous countries around the world.