Peter McFarlane is a managing director and leader of the Financial Investigations team in Toronto. With more than 30 years of forensic accounting and investigative experience, Peter manages a wide range of complex financial investigations, litigation consulting, asset recovery and financial due diligence assignments for corporate and government clients around the world.
Peter has investigated a broad range of fraud cases, including management and employee fraud, money laundering and fund tracing. His commercial and civil litigation matters have involved breach of fiduciary duty, breach of trust and breach of contract, shareholder disputes and damages assessments. He has also led numerous pre-acquisition due diligence engagements on behalf of corporations and financial institutions.
Peter has spoken in numerous forums on fraud awareness, funds tracing and due diligence. He has been a seminar leader for York University’s Osgoode Hall Law School Intensive Trial Advocacy Workshop. He has also provided expert testimony in a variety of courts throughout Canada.
Peter rejoined Kroll’s Toronto office after six years with an international consulting firm. He previously spent seven years with Kroll in Toronto following seven years with a boutique firm specializing in investigative and forensic accounting. Prior to that, he was with a Big Four accounting firm in the U.K. and Canada for eight years. Peter is a Chartered Professional Accountant, Chartered Accountant with a specialist designation in Investigative and Forensic Accounting, and a Certified Fraud Examiner.
- Financial Investigations: Peter has led numerous financial investigations on a wide variety of issues. He investigated anonymous allegations that a company’s employees were operating fraudulent billing and kickback schemes. The fraud extended over 20 years, exceeding $6 million. Peter acted as an expert witness in the criminal proceedings, which resulted in several convictions. In another matter, Peter led a team retained by the Government of Jamaica to investigate the failure of several financial institutions. He assisted local law enforcement to identify criminal conduct and aided the Solicitor General in successfully pursuing recoveries through civil litigation proceedings. In another international assignment, Peter investigated the misappropriation of funds from a bank based in the Middle East, including tracing funds through multiple jurisdictions such as Switzerland, Lichtenstein, the U.K. and the U.S.
- Due Diligence Investigations: Peter has provided numerous corporate clients with critical intelligence to support financial transactions. In one matter, he assisted a publicly listed Canadian conglomerate with global investments seeking to acquire $1.5 billion in additional assets by auction. The information uncovered enabled the client to evaluate the opportunity and ultimately decline to bid. Peter also led the financial due diligence team on behalf of an investment fund in the acquisition of a public company, which was subsequently taken private. The transaction value was $300 million.
- Litigation Support: Peter has been involved in many large, complex litigation matters. One matter was a breach of contract dispute relating to a distribution agreement and the calculation of damages suffered by the client. The matter was ultimately settled during the arbitration proceedings with a favorable settlement for our client in excess of $100 million. Peter also led a team investigating a breach of their information systems and loss of customer data. The investigation determined the methodology used to breach the system and, working together with the local law enforcement agency, the hacker was identified, arrested and prosecuted.
- Monitorships: Peter led a team retained as Monitor of a global electronic payment processor subsequent to the seizure of its funds held in US-based financial institutions due to alleged breaches of the Unlawful Internet Gaming Enforcement Act and other infractions.
Education and Certification
- Chartered Accountant, England and Wales (ACA)
- Chartered Professional Accountant, Chartered Accountant, Canada (CPA, CA)
- Certified Fraud Examiner (CFE)
- Stirling University, BA (Honors) in Accounting and Computing Science
- Canadian Institute of Chartered Accountants with specialist designation in Investigative and Forensic Accounting (CA•IFA)
- Institute of Chartered Accountants of Ontario
- Institute of Chartered Accountants of England and Wales (ACA)
- Association of Certified Fraud Examiners (CFE)