Philip Stern is a senior managing director in the FTI Forensic and Litigation Consulting segment and is based in New York. Mr. Stern has 39 years of private sector consulting and federal, state and city government experience in corporate and banking fraud, computer fraud, litigation consulting, and crisis management.
Experience
Mr. Stern has considerable experience in matters involving corporate and health-care fraud, antitrust investigations, bankruptcy fraud, government fraud, intellectual property theft and regulatory compliance violations. He has also performed large-scale international internal investigations and fraud investigations involving millions of dollars in lost and diverted funds. Mr. Stern headed FTI’s Independent Examiner Team monitoring AML compliance by Bank of New York/ Mellon under their Non-Prosecution Agreements. Mr. Stern’s team was responsible for oversight and assessment of the Bank’s compliance program, including AML surveillance, KYC processes, and suspicious activity reporting. The team reported compliance to the US Attorneys’ offices for the EDNY, SDNY and the Western District of Pennsylvania, as well as various federal and state regulators. Mr. Stern was retained by the Trustee on Bernard L. Madoff Investment Securities matter as co-leader of the global FTI team providing investigative support to the Trustee and his counsel.
Prior to joining FTI in 2000, Mr. Stern served as senior managing director and counsel at Decision Strategies/Fairfax International LLC (DSFX), an international private investigation and security consulting company. During his 11 years with the firm, he conducted fraud investigations in the U.S. and internationally. Prior to joining DSFX, Mr. Stern was the Long Island regional director of the New York State Special Prosecutor's Office in charge of investigating and prosecuting fraud in the $10 billion Medicaid supported health care delivery system. In addition, Mr. Stern served as a Special Assistant United States Attorney in the Southern District of New York from 1986 to 1989. In this role, he was responsible for prosecuting joint federal/state crimes against the government-funded Medicaid system.
Mr. Stern gained valuable experience from 1975 to 1988 as deputy regional director in the New York State Attorney General's office. Prior to that Mr. Stern served as Administrative Assistant to the Commissioner of the New York City Department of Investigation, where he directed major investigations and prosecutions of white-collar corruption in city, state, and federal government programs.
Mr. Stern has written articles on issues involving corporate governance, fraud prevention and compliance. His articles, “IPSIG’s: One Solution to Ensure International Transparency” and “Compliance Programmes and International Corporate Misconduct,” were published in Director’s Monthly by the National Association of Corporate Directors in May 1998 and Transparency International Newsletter in June 1996, respectively. “Private Search Warrants for Civil Fraud: Authorities from the Intellectual Property Field” was published in Civil Prosecution News in 1994. Mr. Stern is a frequent media commentator in the national press, including television and radio, and a frequent speaker on topics such as terrorism, fraud, security, asset tracing, investigative techniques, Sarbanes-Oxley, electronic discovery and trial techniques.
Mr. Stern holds a B.A. in history and political science from Alfred University and a J.D. from the New York University School of Law. He is licensed to practice law in State of New York and various federal courts, including the United States Supreme Court and United States District Court for the Southern District New York and Eastern District New York. He is a member of the American Bar Association, New York State Bar Association, Association of Corporate Counsel, International Association of Independent Private Sector Inspector Generals, NYSBA Health Law Section, NYSBA Commercial & Federal Litigation Section, and the ABA Health Law Section.