EDWARD J. Herbst

Ed is the founder and principal of Bison Forensics. He supports litigation with accounting investigations and clients with investigations and fraud mitigation strategies.

·       Government Compliance Investigation – Led a team to assess compliance with the statutory authority, GAO and OMB guidance and Department policy of a component of a major US Department. The investigation was conducted over a nine-month time frame and included assessing various funding components and the relationship of a special non-profit vendor with the Department. The results were briefed to the Deputy Secretary of the Department and identified noncompliance with statutes and the report outlined  curative recommendations.

·       FCPA investigation - Assisted counsel to a multi-national global energy organization in conducting an FCPA investigation in South America to document the internal control system and documentation as it evolved over a ten-year period presentation to the DOJ and SEC. Oversaw numerous interviews and translations and illuminating the policies  Responsible for the collection of supporting documentation of the system as it temporally existed at points in time and collecting and documenting the required SOX sign-offs.

·       Revenue recognition – Led a team to investigate millions of dollars in overstated inventory discovered when the plant Controller abruptly resigned. After carefully recreating the cost build up schedules for the past year, we identified the Controller was meeting budgeted profit goals by making entries which erroneously inflated inventory.  It was determined the conduct was a lack of employee competence and no funds were diverted from the client. We assisted the client to establish better oversight and an improved system to mentor plant controllers to mitigate this from future occurrence.

·       Insider Dealing – Provided oversight, quality review and specialized knowledge to assist outside counsel in an investigation of the C-suite of a Real Estate Investment Trust (REIT). The C-suite of the publicly held REIT used closely held contracting companies to support the REIT for maintenance. Construction, etc. The ultimate owners and beneficiaries of the contracting companies were the CEO and other C-Suite executives. The issues investigated were self-dealing and proper accounting of required SEC disclosures of the relationship of the closely held contractors. This diversion scheme caused the C-Suite to be removed by the Board of Directors and was referred for prosecution.

• Directed national security, criminal, cyber, and intelligence programs with a focus on white‑collar crime, healthcare fraud, corruption, and financial institution fraud

• Led the Western New York Health Care Fraud Task Force coordinating FBI, HHS‑OIG, OPM‑OIG, FDA, USPIS, USAO, and local law enforcement

• Directed healthcare fraud investigations including provider overbilling, upcoding, unnecessary services, and organized criminal activity targeting Medicare and Medicaid

• Liaison with SIU investigative operations to procure intelligence and new case matters

• Managed complex healthcare fraud investigations resulting in civil and criminal sanctions, tens of millions in recoveries, and disruption of organized fraud networks.

• Led insider‑threat investigations involving theft of trade secrets, classified material, and sensitive technologies valued at over $500 million.

• Built and led cross‑functional investigative teams delivering consistent case convictions and risk‑mitigation outcomes.

• Led the Western New York Health Care Fraud Task Force. Agencies involved: FBI, HHS-OIG, IRS, Postal Inspection Service, NY State Attorney General’s Office, NY State Insurance Frauds Bureau. Our focus was provider and durable medical equipment fraud. Widely recognized as a top performing Health Care Fraud team resulting in tens of millions in civil and criminal penalties including False Claims Act violations.

• Led an undercover operation to uncover acts by a Russian criminal organization who compromised a medical practice and exploited elderly Russian immigrants to defraud Medicare. The team dismantled the group and charged 28 individuals including physicians and medical providers.  

• Led investigation of a dentist who was charging for services not rendered; exceeding plan allowances and conducting a scheme to provide documentation of services for a fee which allowed participants to fraudulently obtain medical savings reimbursements. The provider was convicted and sentenced.

• Recognized leader in Fraud: Led Agents and task force officers in successful investigations leading to prosecution, in Securities Frauds, Public Corruption, Health Care Fraud, Bankruptcy Fraud, Financial Institution Fraud, Money Laundering and other fraud matters.