CASES
DUE DILIGENCE - RISK MITIGATION - BACKGROUND CHECKS
Names and locations have been changed to protect the innocent, as well as the not so innocent.

A Safe Bet?

Most jurisdictions require background checks on entities before issuing gaming licenses. In any case, in the high stakes world of casinos, owners do not want to gamble when choosing a partner. A casino in Nevada was about to partner with Mr. Waye in developing a gaming resort in Asia. The casino was curious as to why Mr. Waye left his former position as CEO of an Internet gaming company, and wondered to what extent Waye was responsible for the problems that had occurred there, including an RCMP raid.

We tracked down and interviewed the former CFO of the Internet gaming company, who detailed Mr. Waye's flagrant abuse of the company's resources, for example: "He would fly to London first class, that was maybe $11,000. Business class was $6,000. He would have a limo waiting at the airport, then keep it waiting four hours while he had dinner. One trip would cost $30,000."

The former CFO also alluded to other issues on which he declined to elaborate, but commented "he is the least scrupulous guy I ever worked for".

There were also minor criminal charges and four lawsuits against Mr. Waye involving breaches of contract.

Because we were able to uncover the truth, the client decided they could not risk their reputation and did not proceed with the partnership.