Going to court is not an experience most people enjoy. However, an expert witness can help you win your case. Here are a few times you may need a financial expert witness.

Role

A financial expert witness focuses on educating from the gathering of evidence until the trial is complete. Many times, the litigation support specialist helps mediate and in trial preparations. The attorney and court may need to understand the financial pieces of the case. Having an expert who can articulate their terminology, methods, procedures, interpretations, underlying data, proper formats and ethical issues can be of huge help to a case. Keep in mind, a financial expert witness who doesn’t understand or cannot articulate these things may not be the one to use.

Criminal

Going to court for trial involving financial wrongdoing is a great time to hire a financial expert witness. In fact, many courts may require one. Money laundering cases are one example of a case requiring the expertise and understanding of these financial experts. They need to understand how to perform forensic accounting and thoroughly investigate fraud claims. The expert may need to provide testimony during the trial to answer questions the court has or the judge. Both the prosecutor and defender may cross examine the witness to provide a thorough amount of information to the court.

Arbitration

Real estate arbitration disputes may benefit from the expertise of a financial expert witness. These legal proceedings often involve large amounts of money or tracts of land. Perhaps the lending practices by the construction firm were not handled properly or the bank made a mistake. The financial expert can investigate these claims.

Technology

The growth in cyber crime due to the proliferation of technology may require the use of a financial expert witness. These crimes go beyond a simple bank transaction. Many even use fake IP addresses that require the skilled sleuthing of an expert.