Case One - Background Check
Prior to a joint business venture, our client requested a standard due diligence package. The check included calling the Small Claims Court Registry. Our subject had an outstanding claim against him from his best friend of 20 years. Turns out he owed his friend $5000 and the friend was unable to collect. Our client declined to have such a person in a position of fiduciary trust.
Case Two - Background Check
Our client was incoporating a new company and needed to verify a potential partner's financial health. The partner had just sold a house in North Vancouver for $1.5 million, providing more than adequate funding for their venture.
Case Three - Corporate Due Diligence Check
The head of a large, national IT firm was looking to buy a slightly smaller competitor, headed up by the CEO's good friend. The sale came off without a hitch, until the CEO discovered that the company he just bought was hugely in debt. The CEO was forced out by his board of directors for not doing his job properly. True North Research provided the due diligence, but they should have phoned us BEFORE the sale.
Case Four - Corporate Due Diligence Check
A firm out of Ontario that specializes in mail-in rebate cheque systems found itself on the wrong end of a lottery scheme. The less-than-honourable lottery firm contracted with the legitimate company to issue cheques drawn on a account with the Royal Bank - cheques which were represented as supposed winnings to the lottery ticket buyers.
Soon after, the poor winners were badgered to return the money, adding more of their own, to retrieve yet more "winnings."
If the legitimate cheque-issuing firm had contracted with TNR for "Know Your Customer" services, they would not have found themselves in the middle of this lottery scam. TNR helped track down the scammers and turned the information over to the RCMP.