Anthony Milazzo is a Senior Managing Director at Ankura with over 27 years of experience in auditing, corporate finance, and forensic accounting. He leads forensic accounting engagements including internal investigations, disputes, and general accounting advisory matters. Anthony manages teams on accounting investigations that include unraveling complex accounting transactions, advising legal counsel, and presenting findings to various third parties. He provides forensic accounting litigation support including accounting research, expert reports, testimony, and advisory services and technical accounting advice on a variety of GAAP, GAAS, and SEC matters, including restatement projects, drafting technical accounting white papers, and coordinating with management, directors, audit firms, counsel, and government authorities. He is based in New York.
Before joining Ankura, he focused on forensic accounting at two global consulting firms. He also served in the assurance practice and managed financial statement audits and SEC filing engagements (including three completed public offerings) for a wide range of clients varying in industry and size.
Anthony also worked in private industry, serving as corporate controller of a software company that created applications for the commercial real estate market, and as chief financial officer of a startup. In both roles, he was responsible for coordinating all financial aspects of the organization, including financing coordination and financial reporting.
Examples of Anthony’s forensic accounting experience includes:
- Testified in a criminal matter (Southern District of New York) related to revenue recognition issues, timing of payment transactions, cash balances, and collection and sales return reserves.
- Issued an expert report and was deposed related to an asset forfeiture case brought by the DOJ alleging that certain funds were received in connection with a Russian tax scheme. Expert report focused on flow of fund analyses.
- Testified in a criminal matter (Southern District of New York) related to a previous channel-stuffing investigation and was deposed in a related SEC matter. Worked closely with assistant U.S. attorneys in assembly of voluminous trial exhibits/support and in trial preparation.
- Led a long-term consulting advisory matter related to an SEC administrative law proceeding focused on revenue recognition including managing comprehensive document review and case analysis work streams. Coordinated with counsel and testifying expert on all litigation matters.
- Provided guidance to three publicly-traded pharmaceutical companies related to SEC filing restatements, including taking responsibility for evaluating financial misstatements and drafting restated filings.
- Led an investigation related to an SEC enforcement action of a publicly-traded electronics distributor. The issues primarily related to the interaction between the distributor and one of its suppliers, which had previously admitted to accounting irregularities including channel stuffing and other right-of-return issues.
- Led all aspects of the Michael Kenwood Receivership investigation, including various asset tracing analyses related to the complex web of cash flows necessary to determine the entities involved in the commingled Ponzi scheme and for claw-back litigation and coordinated findings with counsel, the SEC, U.S. attorneys, and other government authorities.
- Led investigation of a construction project to determine if a project manager was involved in self-dealing. Investigation involved extensive review of subcontractor disbursements, witness interviews and reporting of key findings to joint venture partners.
- Led investigative work related to a hospital system. This work stemmed from a lender’s rights under a loan agreement and whether the related party payments represented a breach of the loan agreement.
- Led investigation work in connection with the SIPA liquidation of Bernard L. Madoff Investment Securities regarding the commingling of funds between the broker/dealer business and an investment advisory business that was the primary vehicle used to orchestrate the Ponzi scheme and coordinated findings with counsel, the SEC, and other government authorities.
- Investigated a private equity partner’s involvement in a significant asset misappropriation matter, including detailed review and analysis of numerous portfolio company investment transactions and a follow-up proposal of internal control recommendations.
- Advised clients of a hedge fund that was being liquidated as the result of a Ponzi scheme fraud. Analyzed the receiver’s findings, coordinated document discovery with the receiver, and collaborated with counsel on matters of equitable distribution.
- Provided guidance to a publicly traded private equity firm related to whistleblower allegations concerning internal controls and possible violations of SEC rules and regulations.