Data Detective: How Frank Wilson’s Innovative Investigation Techniques Exposed Al Capone’s Tax Evasion Scheme

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Financial Fraud and Other Shenanigans

Jim Barratt

6 episodes

2 days ago

We delve into interesting aspects of historic and recent financial frauds with the aim of informing and empowering investors and businesses with knowledge to protect themselves from becoming victims of financial fraud. Seasoned forensic accountant, Jim Barratt, breaks down the frauds in simple terms and provides Illuminating analysis and insightful commentary on these deceptive practices that plague the business world. Experienced professionals join the podcast as guests to share their experiences and perspectives. Financial frauds are often astonishing, scandalous, and ridiculous.

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Data Detective: How Frank Wilson’s Innovative Investigation Techniques Exposed Al Capone’s Tax Evasion Scheme

Financial Fraud and Other Shenanigans

1 hour 4 minutes 51 seconds

1 year ago

Data Detective: How Frank Wilson’s Innovative Investigation Techniques Exposed Al Capone’s Tax Evasion Scheme

During the Roaring 20s in the US, Prohibition outlawed the sale of alcohol which led to gangs of criminals and bootleggers ruling urban cities, among them was the notorious Al “Scarface” Capone. Al Capone was deemed Public Enemy Number One and illegally earned millions of dollars but never paid any income taxes. That is until an unsung hero named Frank J. Wilson developed evidence to convict the elusive Capone and send him to jail. Frank Wilson was an IRS investigator who some consider the father of modern forensic accounting investigative techniques. His dedication, attention to detail and interviewing skills brought to light hidden trails of cash that Capone enjoyed but never declared. Wilson’s approach to analyzing data influenced future investigators as they too would “follow the money”. In addition, Frank Wilson was instrumental in developing methods to identify the kidnapper and murderer in the infamous Lindbergh baby kidnapping. As Wilson and his team reviewed millions of handwritten and hard copy documents, in today’s world, the investigations of fraud involve the digital age of electronic data. Data analysts with a variety of data and analytic tools can efficiently obtain, analyze and identify the needles in the terabyte haystacks. Our special guest, Joe Hoang, is a seasoned data analyst and technology advisor who works hand in hand with today’s Frank Wilsons to conduct financial fraud investigations and assist companies and individuals. Joe takes us through the development and use of data analytics into the modern era.

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Host: Jim Barratt

Website: Barratt Consulting Group

LinkedIn profile: Jim Barratt, CPA, CFF | LinkedIn

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Special Guest: Joseph Hoang, Ascendant Solution Group

LinkedIn profile: Joseph N. Hoang, CFE | LinkedIn

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To learn more about Frank J. Wilson:

“Special Agent-A Quarter Century with the Treasury Department and the Secret Service” by Chief Frank J. Wilson and Beth Day, 1965, by Holt, Rinehart and Winston

The Undercover Man, film, 1949 starring Glenn Ford

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Voiceovers by Cat Stratakis.