Financial Advisory Forensic leadership profiles

Rana Shashaa
Forensic Middle East Leader

Mobile: +971 (0) 56 661 3444 | +966 (0) 55 177 1734
Email: rshashaa@deloitte.com

• Currently leading a major investigation on behalf of a tax authority in Western Europe with respect to the submission of allegedly fraudulent withholding tax claims in excess of USD 2 billion.
• Investigations on behalf of a local government to assess multiple fraud and corruption allegations against managers in government owned entities.
• Investigations into allegations against the former CEO of a large public company over the misuse of his position, with recoveries in excess of USD100 million.
• Led an investigation engagement on behalf of Middle East contractor to assess a large-scale misappropriation allegation against the former General Manager. The value of the losses claimed were in excess of USD 200 million.
• Led a DIAC arbitration matter between a UAE based manufacturer and contractor regarding the loss of profits and increase in costs on a delayed construction development.
• Led a dispute, acting for the respondent in an ICC UK arbitration to assess quantum in relation to a terminated Middle East power station Project.
• Led a Jordanian arbitration matter, acting for the respondent, in a dispute between a general contractor and a Jordan based hotel developer. Work included assessing the incremental costs incurred by the developer as a result of the delay and non-performance by the contractor.
• Led an engagement where we were appointed as the Expert in a large Dubai Court shareholders' dispute for a multi-national family-owned business group. Our work included Forensic Review and Valuation.
• Rana has provided expert evidence numerous times in a wide variety of forums and is listed in the Who’s Who Legal’s list of worldwide recognized experts.

Chris Clements
Partner | Forensic and Dispute Services

Mobile: +971 (0) 55 483 2371
Email: chrisclements@deloitte.com

• Expert witness in an International Arbitration, his role involved verifying the costs incurred in the construction of a North African airport.
• Appointed by a Danish PE house to provide forensic accountancy and valuation evidence on more than USD 100 million acquisition that had gone wrong within days of completion. Chris’ work involved assisting with investigation of the financial aspects to the loss, delivery of expert witness testimony to the arbitral tribunal on the loss of value due to the PE house and assisting the client with successfully resolving the associated insurance claims. The matter was heard in Denmark under Danish Law and DIAC Rules.
• Undertaking out a contract reviews on a major USD 2.4 billion oil refinery construction contract for a Middle Eastern Government.
• Instructed in a USD 300 million automotive arbitration quantifying the losses flowing from allegedly breach of contract.
• Appointed testifying expert in two Dubai based project disputes with quantum of USD 500 million and USD 125 million.
• Expert witness in a USD 272 million loss of profits dispute between two large middle eastern businesses.
• Acted as consulting expert in a USD 44 million sale and purchase dispute between a US business and a French Company where Chris supported a corporate finance expert.
• Acted as consulting expert in a USD 700 million sale and purchase ICC arbitration held in the UK under New York Law.
• Appointed to investigate the additional costs in a contract resulting from negligent construction of an oil rig for a Middle Eastern company – USD 80 million.

Mahmoud Abougabal
Partner – Construction Advisory

Mobile: +971 (0) 50 622 7842
Email: mabougabal@deloitte.com

• Acting as a delay expert in litigation on a landmark museum involving forty delay events. Value of dispute was AED 420 million.
• Acting as a delay expert in two litigations involving internal and external bridges, as well as internal finishes. Mahmoud produced technical reports and was cross-examined. Combined value of both disputes is AED 460 million.
• Appointed by a leading Dubai-based developer as a delay expert in litigation, involving 36 delay events over a period of three years. Value of dispute was AED 80 million.
• Appointed as a delay expert in ICC arbitration involving matters of delay and disruption to civil works. Value of dispute was AED 50 million.
• Appointed by a leading Dubai-based developer as a delay expert in litigation, involving 16 delay events over a period of two and a half years. Value of dispute was AED 19 million.
• Appointed as a delay expert in DIAC arbitration involving eight delay events to the construction of a residential tower. Mahmoud produced reports concerning matters of delay, exchanged rejoinders, and was cross-examined. Value of dispute was AED 40 million.

Collin Keeney
Partner - Investigations and Disputes

Mobile: +971 (0) 50 658 2694
Email: ckeeney@deloitte.com

• Leading Deloitte’s Forensic efforts related to a USD 10 billion fraud and associated dispute between two major Saudi enterprises, involving dozens of local and international banks. He led team efforts around all aspects of litigation support, including attending trial in the Cayman Islands and coordinating multiple disclosures in a year-long trial.
• Leading an investigation into allegations of inside dealing and fraud between a KSA distributor of a multinational consumer electronics company.
• Led a series of interrelated investigations into alleged bribery and corruption violations by a large multinational across seven countries in the Middle East.
• Led a major, multi-year investigation into allegations of fraud, corruption and bribery at the Saudi Arabian distributor of a major European medical devices and medical services company.
• Led a team assisting the Saudi branch of a large international petroleum services provider to address matters related to AB&C. Collin reviewed the client’s AB&C policies and procedures, assessed controls, advised on a training program, and assisted with an internal investigation.
• Currently leads several ongoing Fraud Risk Assessment exercises. He has conducted FRA exercises in a range of industries, including oil & gas, banking, sporting events, facilities, capital markets, among others.
• Led numerous ‘fraud audits’ for KSA-based companies serving Saudi Aramco, including reviewing fraud-related controls, transaction testing and training around fraud awareness.

Sridip Ganguli
Partner – Data Analytics

Mobile: +971 (0) 50 650 9422
Email: sganguli@deloitte.com

• Helped a leading utility company standardise its data and business intelligence strategy and roadmap, and then helped deliver the roadmap successfully.
• Worked with one of world’s largest Sovereign Wealth Fund to build a data led application to help manage and visualise their global portfolio and investments across sectors.
• Worked with a leading TELCO in the Middle East to help deliver their business and location intelligence and analytics needs across multiple divisions and groups.
• Worked with a leading Qatar healthcare provider to help standardise the analytics and BI platform and help drive data driven decision making across the board.
• Worked with a smart city to help set up open data standards to help citizens and multiple ministries plan for a better citizen experience.
• Worked with a leading airline in the Middle East to help standardise the semantic graph and analytics platform to help the various businesses with data driven decision making.

Fouad Aoun
Partner - Investigations and Disputes

Mobile: +971 (0) 50 676 1954
Email: faoun@deloitte.com

• Led a multi-jurisdictional investigation into allegations of embezzlement, conflict of interest and mismanagement by the fund manager of two international funds with combined assets under management of over USD 500 million.
• Led an investigation into allegations of embezzlement of over USD 3 billion by the former management of a large conglomerate in the GCC region. The work included investigating the flow of funds and offshore special purpose vehicles and conduit companies that facilitated the alleged embezzlement.
• Led an investigation into allegations of misappropriation of funds ,mismanagement and misrepresentation to the board of directors by the former CEO in relation to the construction of a plant of over USD 1 billion at a large energy company in the GCC.
• Assisted numerous clients with ABAC investigations and third-party forensic reviews in UAE, Türkiye, Egypt, Saudi Arabia, Kuwait, Lebanon and Pakistan.

Paul Huck
Director - Investigations and Disputes

Mobile: +966 (0) 53 335 0270
Email: pahuck@deloitte.com

• Review of a Riyadh based organisation’s historic trading activities due to a recent change of senior management. Due to concerns regarding previous trading and financial activities the review include a governance review, forensic spend analysis and a review of employees’ conduct.
• Acting for a Jeddah based entity which, following the receipt of whistleblowing allegations, required an investigation into various financial transactions and contract reviews. The investigation included a detailed forensic spend analysis, a governance review and a review of various employee’s conduct.
• Acting for the Liquidators of Abraaj Investment Management Limited, a Middle Eastern asset manager, with over USD 14 billion Assets Under Management (AUM). Investigating its collapse, resulting in significant loss to both creditors and investors. The investigation has included a detailed forensic analysis and verification of many transactions; the analysis of fund flows through the corporate and fund structure to consider the proper (or otherwise) use of monies; the tracing of transactions, investments and assets throughout the world and working with the liquidators in developing and actioning a recovery strategy.
• Advisor to a failed bank in the Middle East providing detailed forensic work on various matters including share portfolios, a re-construction of the USD 2 billion loan book and working with the bank’s lawyers to pursue an asset recovery strategy primarily based on litigation due to financial irregularities. The role included acting as an expert in the Bahrain Chamber for Dispute Resolution in a claim valued at over USD 1.5 billion.

Boray Altunisler
Director – Forensic Technology

Mobile: +971 (0) 50 455 8748
Email: baltunisler@deloitte.com

• Managed the eDiscovery component of a multi-billion dollar tax fraud case that involved over 43 terabytes of data, one of the first disclosures based on Continuous Active Learning Technology in the English Commercial Courts, advising law firms in the UAE, UK and US.
• Led a regulatory investigation for a global technology company involving data collections, processing and review in multiple jurisdictions including the Middle East, the US, Germany, Russia and Pakistan and disclosures to the DoJ and OFAC.
• Led the eDiscovery aspect of two concurrent multi billion-dollar investment dispute matters for a North African Sovereign Wealth Fund, which were listed as two of the largest cases in the English High Courts.
• For the investment arm of one of the Emirates in the UAE, managed their investigations and litigation portfolio involving multiple jurisdictions, working with a number of law firms in the UAE and the UK.
• As part of the acquisition of a European airline, worked on the electronic data carve-out exercise that involved various live IT systems to be analysed and data to be segregated due to IP restrictions.

Khush Khan
Director - Financial Crime

Mobile: +971 (0) 50 128 3009
Email:khushkhan@deloitte.com

• Khush has performed regulatory reviews on behalf of the US FED and UK’s FCA reviews. He is fluent on global regulatory expectations including industry bodies such as FATF.
• Khush has performed regulatory reviews on behalf of the US FED and UK’s FCA reviews. He is fluent on global regulatory expectations including industry bodies such as FATF.
• He has led Financial Crime Risk Assessments for over 20 banks in the UAE and wider GCC. The risk assessments were based on local and global regulatory expectations and leading industry practice.
• Khush has pioneered FCC transformation programmes within the MENA region since 2015 and has led FCC transformations for major banks across KSA, UAE, Bahrain, Kuwait, Oman and Pakistan, providing oversight on governance, design of controls, technology implementation and managing teams on drafting policies, procedures and related materials across people, process and technology.
• He leads a number of tech alliances for FCC technology solutions including performing effectiveness and efficiency reviews and system implementations.
• As Deloitte’s FCC transformation and technology lead, Khush focuses on supporting financial institutions to be regulatory compliant and drive operational efficiency and cost reduction.

Wael Tahtah
Director l Forensic

Mobile: +971 (0) 50 128 3009
Email:wtahtah@deloitte.com

• Wael has wide-ranging experience in attribute-based access control (ABAC) and FCPA having been involved in numerous projects and has developed strong industry knowledge as well. He also provides training on ABAC and FCPA matters.
• His work experience involves a diverse range of client profiles covering the Middle East region. His profile of clients include government entities, regulatory authorities, pharmaceutical, life sciences, car manufacturers and oil and gas.
• Led a forensic investigation and litigation support in a FCPA/ABAC review of a multinational pharmaceutical company. Wael Investigated allegations of bribery and facilitation of payments to health care professionals (“HCPs”) and government officials across countries in the ME region. His work also included ABAC and investigation related review for distributors supporting the regional businesses of the company.
• Led a FCPA - US SEC/DOJ investigation into allegations of improper revenue recognition and illicit payments related to the agent of a European medical device company in Saudi Arabia.
• Led numerous proactive and reactive ABAC due diligence reviews for distributors/agents/partners of multinational companies.
• Wael led an ABAC investigation for a natural element producer and manufacturer in the Middle East. He assisted the client’s legal compliance team in identifying bribe payments to government officials as well as major breaches to the company’s procurement policies.

Prabodh Newar
Director l Financial Advisory

Mobile: +971 (0) 55 802 1365
Email:pranewar@deloitte.com

• Managed multiple fraud risk management engagements across sectors such as financial services, government and public services, insurance, telecom and technology.
• Led a team conducting fraud risk assessment for a global group of energy and petrochemical companies with businesses in multiple geographies. The scope included assessing the vulnerabilities to fraud and testing the effectiveness of controls. Prepare a heat-map constituting the repository of fraud risks and the efficacy of existing controls, recommend additional controls in terms of people, process and technology for anti-fraud measures.
• Assisted in managing multiple stakeholders during monitoring of a fraud risk implementation plan in line with the risk appetite, designing anti-fraud strategy and awareness plans, setting up fraud governance framework, etc.
• Managed fraud risk engagements for a leading capital market company in ME covering end to end processes like securities & investment banking, digital banking, funds management, procurement, finance, HR, inventory, middle & back office operations, etc.
• Assisted in developing the anti-fraud framework of public sector organisations including but not limited to policies & procedures, gaps analysis, designing the governance/target operating model, etc.

Tarek Bleik
Director | Forensic

Mobile: +974 6602 1631
Email: tbleik@deloitte.com

• Led an investigation into alleged manipulation and misreporting of production volume data of a company based abroad, for a major Qatari family office.
• Involved in an investigation into inappropriate activities undertaken by the former Head of Corporate Services and the former Head of Private Equity of a Qatari bank.
• Led an AML/CFT review engagement for one of the big banks in Qatar. Identified design and operational gaps in relevant controls and recommended solutions to Management.
• Involved in the Financial Review of the Central Bank of Libya.
• Provided investigation services for the Public Prosecutor office in Qatar in relation to a major criminal case.
• Involved in the assessment of the potential impact of sanctions on a diversified portfolio of assets held by a sovereign wealth fund.
• Provided expert witness services in relation to an ongoing QICCA arbitration case proceedings between a Qatar bank and a service provider entity.
• Completed a seven-month secondment to a sovereign wealth fund managed by the Bahrain Ministry of Finance to provide investment management support and manage the financial operations of the fund.
• Assisted a Deloitte Partner who was appointed as a Trustee under the KSA bankruptcy law to provide Saudi Indian Company for Cooperative Insurance (Wafa Insurance) with insolvency and financial restructuring services.

Candas Esin
Director - Construction Advisory

Email:cesin@deloitte.com

• Extensively involved in numerous high-profile, complex international arbitration proceedings including railway infrastructure, nuclear and building disputes.
• Assisted the appointed delay expert in preparing a comprehensive delay expert report, conducted critical path analysis, assessed the extent and causes of delay to completion and provided support during the proceedings.
• Acted as the client representative in international arbitration, provided witness evidence and testified as a fact witness regarding a major dispute concerning a 12-month delay to completion, resulting in a USD 40 million prolongation and USD 110 million in scope matters.
• Participated in railway infrastructure arbitration proceedings, assisted the appointed delay expert in preparing a delay report and provided support during the proceedings. Identified over 1,000 days of delay to subcontract works that was valued at over USD 50 million.
• Produced an appraisal for the litigation funders to secure funding and conducted detailed delay analysis, leading to settlement negotiations between the parties for over USD 20 million in delay and disruption matters.
• Performed forensic delay analysis and disruption cost claims for the contractor’s pleadings in various countries including the UAE, Oman, KSA and Qatar. Maintained direct liaison with the appointed solicitors and acted as an independent delay expert to assess the validity of the contractor’s extension of time and prolongation cost claim in support of negotiations.
• Expert in providing strategic advisory, construction planning and programming practices. Developed various contract programmes and monitoring and controlling tools, identified corrective actions, conducted Critical Path Method analysis, identified recovery techniques and prepared customised multi-level progress reports for clients.