Altegrity Risk International

Last updated
Altegrity Risk International, Inc.
Company typeSubsidiary
Founded2010
Headquarters,
United States
Key people
William Bratton, Chairman; Michael Beber, CEO
Servicesinvestigations
business intelligence
forensic accounting
compliance and monitoring
security services
Number of employees
100+
Parent Altegrity, Inc.
Website www.altegrityrisk.com

Altegrity Risk International (ARI) was a New York City-based global risk consulting and information services company. A subsidiary of Altegrity, Inc. of Falls Church, VA, ARI provided investigations, business intelligence, forensic accounting, compliance and monitoring and security services to businesses and government agencies around the world.

Contents

Founding and product offerings

After launching in February 2010, the Company named William Bratton, Chairman [1] and acquired Corporate Risk International (CRI), [2] a firm that has performed over 65,000 due diligence reviews and investigations in more than 150 countries.

Altegrity Risk International investigated backgrounds of companies and individuals on behalf of clients in the course of both pre-emptive and post-crisis engagements. ARI was the firm that vetted the background of whistleblower Edward Snowden. [3] ARI also produced due diligence reviews for clients involved in principal investing, hedge fund investments (in the course of both compliance and transactional diligence) as well as those who seek to understand risk and opportunities associated with doing business with individuals and companies worldwide.

Altegrity Security Consulting provided advisory and training services to international civilian police departments, consulting on operational effectiveness as well as crisis management and through CRI, strategies and services for managing kidnap, ransom and extortion crisis.

Security failures

Through its subsidiary, USIS, Altegrity is the company which vetted the security clearance of Edward Snowden and Aaron Alexis. [4]

The U.S. government terminated two major contracts with the company after security intrusions said to be "state-sponsored". [4]

Kroll Laboratory Specialists, Inc. ( "KLS" ), another subsidiary of Kroll, Inc., was sued by Eric Landon in NY ( Landon v. Kroll ) for failing to comply with NYS and other standards for Forensic Toxicology testing, whereby KLS was to provide completed drug tests to law enforcement agencies to be used as evidence in courts. As in USIS/Snowden, KLS was profiteering by skipping necessary aspects of the toxicology testing. As a result, countless people were falsely prosecuted and incarcerated on the KLS fraudulent lab reports.

Bankruptcy

ARI was a subsidiary of Altegrity Inc, and was owned by Providence Equity Partners, a venture capital firm. As of 31 December 2014, creditors led by Oaktree Capital Management were nearing an agreement to seize control of Altegrity Inc. [3]

In February 2015, the company filed for bankruptcy. [4] [5] After their bankruptcy, Altegrity settled with the U.S. Justice Department for $30 million over fraud charges. [6] ARI became part of the Kroll, Inc. business unit. [7]

See also

Related Research Articles

Distressed securities are securities over companies or government entities that are experiencing financial or operational distress, default, or are under bankruptcy. As far as debt securities, this is called distressed debt. Purchasing or holding such distressed-debt creates significant risk due to the possibility that bankruptcy may render such securities worthless.

Booz Allen Hamilton Holding Corporation is the parent of Booz Allen Hamilton Inc., an American government and military contractor, specializing in intelligence. It is headquartered in McLean, Virginia, in Greater Washington, D.C., with 80 other offices around the globe. The company's stated core business is to provide consulting, analysis and engineering services to public and private sector organizations and nonprofits.

<span class="mw-page-title-main">William Bratton</span> American police chief (born 1947)

William Joseph Bratton CBE is an American businessman and former law enforcement officer who served two terms as the New York City Police Commissioner. He previously served as the Commissioner of the Boston Police Department (BPD) (1993–1994) and Chief of the Los Angeles Police Department (LAPD) (2002–2009). He is the only person to have led the police departments of the United States' two largest cities – New York and Los Angeles.

Kroll is a financial and risk advisory firm established in 1932 and based in New York City. In 2018, Kroll was acquired by Duff & Phelps. In 2021, Duff & Phelps decided to rebrand itself as Kroll, a process it completed in 2022.

<span class="mw-page-title-main">Refco</span> Financial services company in New York

Refco was a New York City-based financial services company, primarily known as a broker of commodities and futures contracts. It was founded in 1969 by Raymond Earl Friedman as Ray E. Friedman and Co. Prior to its collapse in October, 2005, the firm had over $4 billion in approximately 200,000 customer accounts, and it was the largest broker on the Chicago Mercantile Exchange. The firm's balance sheet at the time of the collapse showed about $75 billion in assets and a roughly equal amount in liabilities. Though these filings have since been disowned by the company, they are probably roughly accurate in showing the firm's level of leverage.

<span class="mw-page-title-main">Jack Weiss</span> American politician

Jack Stephen Weiss is an American entrepreneur and former politician. He is co-founder of BlueLine Grid alongside William Bratton and David Riker and is a former member of the Los Angeles City Council representing the 5th district from 2001 to 2009. He previously served as an Assistant United States Attorney for the Central District of California from 1994 to 2000. He is a member of the Democratic Party.

Control Risks is a global risk and strategic consulting firm specializing in political, security and integrity risk assessments.

<span class="mw-page-title-main">Marsh McLennan</span> Global professional services firm

Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. Its four main operating companies are Marsh, Guy Carpenter, Mercer, and Oliver Wyman.

<span class="mw-page-title-main">Paul S. Atkins</span> American businessman

Paul S. Atkins is CEO of Patomak Global Partners LLC, which provides consulting services regarding financial services industry matters, including regulatory compliance, risk and crisis management, public affairs, independent reviews, litigation support, and strategy. He also serves as an independent director and non-executive chairman of the board of BATS Global Markets, Inc., a leading operator of electronic U.S. and European securities markets trading listed cash equity securities and equity options.

<span class="mw-page-title-main">Bankruptcy of Lehman Brothers</span> 2008 bankruptcy of American investment bank

The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.

Risk and strategic consulting refers to the provision of information, analysis and associated services in the field of international politics and economics, with the aim of providing a better understanding of the risks and opportunities facing businesses, governments and other groups.

Jules B. Kroll is an American businessman who is widely credited as the founder of the modern corporate investigations industry. He is executive chair and co-founder of K2 Intelligence, chair of Kroll Bond Rating Agency, Inc., and a member of the board of directors of BlueVoyant.

MF Global, formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in 2011. MF Global provided exchange-traded derivatives, such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global Inc., its broker-dealer subsidiary, was a primary dealer in United States Treasury securities. A series of perceived liquidity problems and large fines and penalties dogged MF Global starting in 2008, and led to its bankruptcy in 2011.

<span class="mw-page-title-main">MNP LLP</span> Professional services firm in Canada

MNP is one of the largest full-service chartered professional accountancy and business advisory firms in Canada. MNP's head office is in Calgary, Alberta, and has offices from Vancouver Island to St. John's. MNP's 127 offices span across 10 out of 13 of the provinces and territories of Canada, as it does not have locations in Yukon, Northwest Territories, and Nunavut. With 8,000+ employees, MNP is the third largest professional service firms in Canada by headcount.

<span class="mw-page-title-main">Moody's Analytics</span> Analytics and financial services company

Moody's, previously known as Moody's Analytics, is a subsidiary of Moody's Corporation established in 2007 to focus on non-rating activities, separate from Moody's Investors Service. It provides economic research regarding risk, performance and financial modeling, as well as consulting, training and software services. Moody's is composed of divisions such as Moody's KMV, Moody's Economy.com, Moody's Wall Street Analytics, the Institute of Risk Standards and Qualifications, and Canadian Securities Institute Global Education Inc.

<span class="mw-page-title-main">FTI Consulting</span> American business consultancy firm

FTI Consulting is a business consultancy firm founded in 1982 and headquartered in Washington, D.C., United States. The company specializes in corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications and technology. FTI Consulting employs more than 7,700 staff in 31 countries and is one of the largest financial consulting firms worldwide.

USIS (US Investigation Services) was a US corporation that provided security-based information and service solutions to both government and corporate customers, in the United States and abroad. Its corporate headquarters were in Falls Church, Virginia, in Greater Washington, D.C. Training took place in Boyers, Pennsylvania. USIS was a part of Altegrity Inc., a company headquartered in the Falls Church area that was owned by Providence Equity Partners.

<span class="mw-page-title-main">Blake Percival</span> Corporate whistleblower

Blake Percival was the Director of Fieldwork Services, Western Pennsylvania (WPA), for USIS. He became a whistleblower in July 2011, when he filed a qui tam suit saying he was fired from USIS, for not ordering his subordinates to submit cases to the U.S. Government for payment, that had not been completed. He had worked for USIS from January 2001 to June 2011. In his suit he stated he had been fired after he refused to order his employees to continue an elaborate fraud known as dumping.

Reid Collins & Tsai LLP is a national trial law firm with offices in New York, Austin, Dallas, Wilmington, and Washington, D.C. The firm represents plaintiffs in complex commercial litigation on a mixed-fee or contingency-fee basis.

Tiversa was an American cybersecurity firm headquartered in Pittsburgh, Pennsylvania. It was founded by a retired chiropractor and real estate entrepreneur named Robert Boback in 2004. The company specialized in trawling the deep web, investigating peer-to-peer networks, and helping businesses counteract data breaches and other cybersecurity risks. Its main product was EagleVision X1, a piece of software that monitored the deep web -- the parts of the Internet that are not easily accessible to general browsers, such as peer-to-peer networks -- for sensitive data.

References

  1. Pfeifer, Stuart (28 January 2010). "William Bratton launches global security firm Monday". Los Angeles Times. Retrieved 9 December 2014.
  2. Government Security News. "Altegrity launches ARI, which acquires CRI". gsnmagazine.com. Retrieved 9 December 2014.
  3. 1 2 Kosman, Josh (31 December 2014). "Creditors nearing agreement to seize Snowden vetter Altegrity". New York Post.
  4. 1 2 3 Sandler, Linda; Tan, Andrea (2015-02-09). "Altegrity files for bankruptcy after losing vetting contracts". Bloomberg.
  5. "Altegrity Chapter 11 Petition" (PDF). PacerMonitor. PacerMonitor. Retrieved 7 June 2016.
  6. Fitzgerald, Patrick (20 August 2015). "U.S. Settles Whistleblower Suit Against Altegrity". Wall Street Journal.
  7. "Our Companies". altegrity.com. Archived from the original on 2014-12-11. Retrieved 9 December 2014.