SD Accounting Firm Publishes Guidelines for Avoiding Accounting Fraud After News of Virginia Man Sentenced After Billion-Dollar Accounting Fraud

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SD Accounting Firm announces their hopes for customers not to be dissuaded from using accountants to handle their life’s savings.

SD Accounting Firm issued a list of ways to make the customer-accountant relationship trustworthy and secure for all parties involved today, due to the recent news in Virginia detailing a multi-billion-dollar fraud scheme. Saving for retirement is one of the desired objectives the site tries to help its customers achieve, and the list details ways customers can be comfortable trusting others with their savings.

The Washington Times reported last week that certified public accountant Jorge Luis Castillo had been sentenced for the fraudulent selling of $485 million in reinsurance bonds, with 3,500 customers thought to be affected. Castillo had previously been employed as an outside auditor for Provident Capital Indemnity Ltd.

SD Accounting Firm’s list of ways to prevent falling into an accounting fraud scheme includes contact information for getting in touch with an objective provider that can help them with their specific needs, information about how to hire and use legitimate, acclaimed accountants, and background information about the technicalities of merchant processing service. This recent scheme indicated the importance of taking extreme caution when trusting others with a significant amount of personal capital, and SD Accounting Firm’s list explains just a few of the many steps that can be taken to help establish that trust.

Provident Capital Indemnity Ltd has been under fire for this charge ever since January of 2011, when news originally broke of this scandal. Castillo pled guilty to fraud charges in November 2011, and the owner of the firm, Minor Vargas Calvo, was found guilty of similar charges in April 2012.

SD Accounting Firm today issued their list of cautionary measures to be taken to ensure the safe and secure relationship between customers and accountants.

SD Accounting Firm offers information for customers on how to get in touch with providers that meet their specific accounting needs, as well as tips for the hiring and using of accountants.

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