Understanding the Usefulness of a Financial Expert Witness

0
34
American flag, flag of European Union and contract on background of businessmen handshaking

Regardless of the occurrence, litigation is never an exciting process for either party. Typically, a circumstance turned sour over time and led two parties to the court of law. Fortunately, there is an avenue for individuals to settle disputes with grace and allow a third party to arbitrate. If you believe in the concept of six degrees of separation, every person in the United States is likely connected to someone that has entered a courtroom at least once. The average American probably wishes that a lot of the bankers responsible for the Great Recession of 2008 saw both a courtroom and the inside of a prison cell. While this did not occur, there are plenty of financial crimes that take place each day. If you are currently involved in an economic, legal battle, an expert financial witness may be able to assist. When thinking about litigation, many people are not aware of what a financial expert wishes to accomplish for the designated party.

Duties of a Financial Expert Witness

The primary responsibility of a financial witness involves aiding an attorney with the financial aspects of a lawsuit. Since financial jargon is often as confusing as legalese, it is essential for the expert economic witness to have the ability to communicate this information effectively. An expert economic witness will likely only be brought into a high profile case and will never set take part in a civil suit. Combined with the cost of an attorney, these services would probably be seen as overkill. At this time, JPMorgan is experiencing news relating to a cocaine bust at a peculiar time. This news came out of nowhere, and this bank is most likely scrambling to get its duck’s in a row. If they have not already, they will most likely reach out to an expert shortly.