Curriculum Vitae

Powers Forensics Co - Curriculum Vitae

Curriculum Vitae

Financial Management Professional – exceptional problem-solving, forensics, and analytical abilities with over 45 years of experience in banking, real estate development, investment securities, construction, tax, tribal/gaming, and restaurant franchises.  Skills include:

Due Diligence

Litigation support

Forensic audits

Commercial loan reviews

Loan Servicing

Merger & Acquisition

Business Valuation

Cost reduction


Contract negotiations


Innocent Spouse Filings

Revenue enhancement

Corporate/Individual/Partnership taxes

Bank Secrecy Act

Regulatory compliance

Expert witness

  • Performed due diligence reviews of large loan portfolio and business acquisitions for several major Wall Street firms including Morgan Stanley, The Hartford, Regis, and Wells Fargo as well as Hiking Group (China) and GMAC.
  • Completed due diligence and analysis of $70 million construction contracting business which led to the termination of the entire management group and elimination of two unprofitable divisions (totaling 45 employees) which drastically improved liquidity and prevented bank takeover
  • Collected evidence and issued report that led to criminal charges and guilty pleas for embezzlement of over $150K of Tribal funds the expulsion of Tribal leader for accepting kickbacks
  • Completed forensic audits for numerous Tribal Entities/Operations including per capita programs, housing authorities, casinos, government programs, indirect cost, investments and development authorities.
  • Completed reconstruction of 18 months of accounting records for $50 million annual retail fuel enterprise for insurance fire claims
  • Completed a forensic audit of former employee’s activity which lead to a customer piracy claim and court award of $484K
  • Provided forensic analysis, reports and expert testimony as needed in the cases involving areas of construction, transportation, restaurant, banking, divorce, investments, retail, securities, business interruption claims, oil & gas support, disability, charity, and embezzlement.
  • Assisted in analysis of $35 million Ponzi investigation resulting in identification of additional $600,000 in investor refunds due investors.
  • Directed due diligence of several public Thrift acquisition candidates (resulting in Local Federal Bank, FSB purchase) including all federal acquisition filings for same.
  • Served as investigator for Oklahoma Board of Accountancy as well as working in conjunction with other regulatory authorities including SEC and FBI.
  • Secured first unqualified tribal audit opinion for Otoe Missouria Tribe of Oklahoma and unqualified for two subsequent years.
  • Completed audit preparation work in one week which reduced casino audit firm’s on-site work from three weeks to three days.
  • Analyzed and amended prior years’ tax filings resulting in net operating loss carry-forwards (financial institution) in excess of $38 million which were utilized to shelter future corporate income.
  • Reduced a number of OK sales tax audit liability by 50-86% ($300K to $40K, $135K to $35K, $13K to $3K and $15K to $4K) and secured waiver of at least 50% of penalties and interest.
  • Reduced a $475K OK sales tax liability by over $250K thru detailed analysis of rentals locations and secured waiver of 50% of penalties and interest
  • Initiated lawsuit against the U.S. Government for breach of contract during aided acquisitions of failed Thrifts-issue won in U.S. Claims Court in 2001.
  • Up-streamed $2 million in reimbursements of parent’s overhead without dividend consequences, and successfully defended position during IRS audit.
  • Substantiated 100% of a $6.8 million core deposit intangible deduction previously disallowed by the IRS.
  • Identified errors/negligence of tax preparer on several “Split-Interest Trust” returns which allowed a claim in excess of $750K against malpractice insurance
  • Obtained waivers of 90% of a $40,000 and 100% of $19,000 tax penalty (individual) and $51,000 civil penalty (Tribal) from the IRS.
  • Secured the correction of an erroneous $1.0 million payroll tax assessment (gaming) and obtained a waiver of the corresponding $12,000+ late filing penalty from the IRS.
  • Affected the withdrawal and distribution of over $250,000 in cash distributions from a Section 1031 exchange without jeopardizing the tax free status.
  • Completed forensic analysis of a $25 million real estate concern which resulted in additional tax benefits in excess of $300,000 and a $35,000 tax refund.
  • Succeeded in reducing a $216,000 personal income tax assessment from the IRS to a $2,000 settlement.
  • Secured non-taxable status on $300,000 of a disability settlement previously determined to be taxable by the IRS.
  • Reconstructed and filed returns for numerous clients for multiple year periods including a 5-year period for a real estate operation-trust-estate client.
  • Retained to review a $20 million gold mining venture in Peoples’ Republic of China
  • Collected over $100,000 in previously written-off venture capital investments.
  • Assisted in securing a $10 million bridge financing and $60 million permanent financing for an Indian gaming and destination resort project.
  • Filed a formal complaint for violation of OK Securities statutes involving an oil and gas partnership which had violated a number of the terms of the private placement including $250K in excess management fees and improper solicitation
  • Uncovered numerous overcharges in client’s multi-million dollar municipal bond portfolio contrary to a national brokerage firm’s investment advisory agreement.
  • Mediated family trucking business valuation and settlement which had been stalled for four years and identified tax refunds due of $244K
  • Issued valuations required for litigation and divorce proceeding for companies including construction, restaurant, real estate, manufacturing and oil & gas support
  • Analyzed and restructured bank and branch operations resulting in substantial revenue enhancements and cost reductions (in millions) in the areas of fee income, EDP/IT, pension & professional expenses, deposit operations.(Local Federal Bank).
  • Performed as a Receiver on a Federal insured $2.0 million loan and identified over $2.0 million in asset/claim recoveries as well as inappropriate transactions among borrowers, banking officers and directors
  • Collected over $7 million in contested assistance payments from the FDIC and $275,000 in overlooked lease/operational payments due from foreclosed properties.
  • Initiated the first repayment of shareholder loans (privately held) and accrued interest from operating cash flow resulting in 85% repayment (Bondtrac)
  • Conducted efficiency reviews of the two largest publicly traded banks in Oklahoma (Bank of Oklahoma, BancFirst) and identified over $5 million of annual cost reductions and revenue enhancements.

Daniel Powers, CPA PC, Oklahoma City, OK, 1997-1998 and 2005 to Present

Bondtrac, Inc., Oklahoma City, OK, President 1999-2004

Local Federal Bank, FSB Oklahoma City, OK, President/CEO/CFO/COO 1990-1996

Collier Enterprises, Naples Florida, CFO-Financial Division 1986-1990

Various Florida Real Estate Developers Controller and Tax Management 1979-1985

KPMG Peat Marwick Syracuse, NY, 1975-1978

Engaged to provide expert testimony, technical advice, investigative accounting and/or damage calculations in variety of industries and pursuant to federal and state statutes in various areas of forensic accounting. Qualified as an expert witness in U. S. District/Bankruptcy courts in Oklahoma and Virginia as well as various district courts in the states of Oklahoma, Washington and Colorado.

Certified Public Accountant (CPA)                         Certified Fraud Examiner (CFE)

Current-Oklahoma License 12812-R, Colorado License 30895

Current- New York License 37298 & Florida License 10468,

Passed Series #7 (Broker), Series #24 (Principal), Series #63 (Blue Sky)

Oklahoma Society of CPA Forensic Accounting and Business Valuation Committee for 2006-2007.

Investigator for the Oklahoma State Board of Accountancy (2009-2012)

FINRA Dispute Resolution Arbitrator #A60508

Syracuse University B.S. Accounting Magna cum laude (1975)