Anthony M. Bracco
CPA/CFF, CFE, CVA, CGMA
Partner & Leader - Litigation, Forensic and Valuation Services Group
Anthony Bracco, CPA/CFF, CFE, CVA, CGMA, is Practice Leader of Anchin's Litigation, Forensic and Valuation Services Group. As a Certified Public Accountant and Certified Fraud Examiner, Anthony has more than 20 years of experience providing litigation support and investigative services to businesses, individuals and their attorneys. He has been qualified as an expert in New York State Supreme Court and the Delaware Court of Chancery. Anthony is also qualified to serve as a Court Appointed Forensic Accountant pursuant to NYS Part 36.
Anthony conducts fraud investigations, assisting victims in civil litigation and criminal prosecution as well as asset tracing and recovery. He assists attorneys in the calculation of economic damages in fraud cases, contract disputes and shareholder litigation. In addition, Anthony has lectured to business owners, executives, attorneys and judges on fraud prevention and detection as well as forensic accounting techniques.
During his career, Anthony has been appointed as an integrity monitor by the Special Commissioner of Investigation for the New York City School District and as a bankruptcy examiner by the U.S. Department of Justice. Anthony has also been approved as an integrity monitor by the Waterfront Commission of New York Harbor, the Port Authority of New York and New Jersey, and the Metropolitan Transportation Authority.
Anthony is a member of the Association of Certified Fraud Examiners (ACFE), the Association of Inspectors General, the International Association of Independent Private Sector Inspectors General (IPSIG), the National Association of Certified Valuators and Analysts (NACVA) and the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA). He is also on the New York State Board of Public Accounting for the State Education Board of Regents.
- Business Risk
- Litigation, Forensic and Valuation Services
- Private Equity
- Opportunity for Businesses: The COVID Economic Injury Disaster Loan (EIDL) Limit Increases by $1.5 million to $2 millionSeptember 22, 2021
On October 8, 2021, the Small Business Administration (SBA) will begin approving COVID EIDL applications for loans greater than $500,000, increasing the COVID EIDL cap to $2 million. COVID EIDLs are loans directly from the SBA that must be repaid. Proceeds from a COVID EIDL can be used for working capital to make regular payments of operating expenses, and to pay business debt incurred at any time in the past, present, or future.
- Paycheck Protection Program (PPP) - Key Updates on Loan Forgiveness FilingsAugust 19, 2021
Many Borrowers who took out their first draw PPP loans in April 2020 and May 2020, but have not yet filed for forgiveness, have likely been contacted by their bank regarding the due date of the loan forgiveness application. A PPP borrower typically has until 10 months after the end of its Covered Period (which lasted up to 24 weeks after the date that the loan was funded) to file for forgiveness before the Borrower is required to begin making payments on the loan.
- Hiring a Forensic Accountant for Your Matrimonial Case: Weighing the Option of a Neutral ExpertAugust 3, 2021
During a divorce, many hard decisions have to be made by the parties involved. One of those decisions will be determining whether to hire a forensic accountant with experience in the financial aspects of divorce. Then you need to decide whether to hire the forensic accountant as a neutral joint expert or to advise only one party.
- The U.S. Justice Department Takes Action Against COVID-19 Related FraudMay 3, 2021
On criminal matters, the DOJ’s efforts to combat COVID-19 related fraud schemes have proceeded on several fronts.
- SBA Releases Program Details of the Restaurant Revitalization FundApril 22, 2021
Recent updates by the Small Business Administration (“SBA”) are captured here, and we expect the SBA to issue additional formal guidance in the next few weeks. The newly released rules may be significant to you and include updates on grant eligibility; calculation, amount, timing and use of grant funds; as well as information on how to apply.
- Key Updates Regarding the Expansion of COVID-19 Economic Injury Disaster Loans (EIDL)April 22, 2021
The Small Business Association (SBA) has issued various updates related to the amount of disaster loans available to address the ongoing strife faced by many businesses in the wake of the COVID-19 pandemic, including the potential to request an increase to an existing loan.
- American Rescue Plan Provides $28.6 Billion in Relief for Restaurants via the Restaurant Revitalization GrantMarch 15, 2021
On March 11, 2021, President Biden signed into law the $1.9 trillion coronavirus relief bill entitled American Rescue Plan Act of 2021 (“ARP”), which includes a $28.6 billion grant program under Section 5003, Support for Restaurants. The focus of this Alert is on the key clauses of the Restaurant Revitalization Grant pursuant to the ARP. We expect the Small Business Administration (“SBA”) to issue additional formal guidance in the next few weeks.
- Beware of Increased Fraud as a Result of COVID-19 February 4, 2021
The Association of Certified Fraud Examiners (ACFE) recently published the results of its second benchmarking report, “Fraud in the Wake of COVID-19,” based on survey results from more than 2,000 Certified Fraud Examiners across various industries. This report, published in September 2020, indicates that cases of fraud have increased during the pandemic and that the trend is expected to continue.
- Five Things You Should Consider When Retaining a Financial Expert October 1, 2020
Practitioners need to be keenly aware of how to best go about retaining a financial expert in a commercial litigation. Fresh from our recent virtual CLE presentation to the Nassau County Bar Association, here are five best practices to follow.
- What A/E/C Firms Need to Remember About the CARES ActAugust 31, 2020
At this point, so much has happened this year that the CARES Act may seem like old news, yet its tax provisions remain in effect and, in some cases, beyond 2020 (unless subsequent legislation changes them). Careful planning may allow architecture, engineering and construction (A/E/C) firms to fully benefit from the wide and varying tax relief offered.
- An Overlooked Tax Benefit for Construction Firms: Business Interest Limitation ChangesMay 13, 2020
The Tax Cuts and Jobs Act (TCJA) of 2017 was generally a taxpayer-friendly legislation for the business community. However, there were several provisions in that Act that were implemented as revenue raisers to partially offset the cost of those tax breaks. One of those revenue raising provisions was the business interest expense limitation. This limitation can potentially impact construction companies of all entity types. The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act modified and increased the existing 30% business interest limitation to 50% for the years beginning with 2019 and 2020. For partnerships, this will not apply to years beginning with 2019, but only for 2020.
- SBA Economic Injury Disaster LoansMarch 24, 2020
An additional source of Coronavirus-related relief is being provided by the U.S. Small Business Administration (SBA) in the form of Economic Injury Disaster Loans (EIDLs). These loans consist of working capital provided to small businesses to meet their ordinary and necessary financial obligations that cannot be met as a result of the COVID-19 disaster. Anchin can help you evaluate whether the program may be an option for you to help meet your liquidity needs and to understand the various related requirements.
- Covid-19 – Key Insurance ConsiderationsMarch 17, 2020
Coronavirus has changed the playing field for business. Once you have developed a plan for the safety of your employees, customers and vendors, it’s time to focus on this new reality and the strategies available to help your business meet its new challenges.
- External Oversight Helps Keep Construction Costs in LineApril 30, 2019
Increasingly, project owners are turning to outside experts for construction cost oversight to address these concerns.
- ACFE Report to the Nations 2018June 15, 2018
The Association of Certified Fraud Examiners (“ACFE”) recently published the Report to the Nations 2018 Global Study on Occupational Fraud and Abuse (the 2018 “Report to the Nations” or “2018 Report”), its tenth publication since 1996. For the past 20 years, the ACFE has reviewed thousands of cases of occupational fraud in which insiders stole billions of dollars from their employers.
- Causation Expert PrecludedApril 3, 2018
Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group are often called upon to serve as expert witnesses to testify in regards to damages resulting from a liability that caused the damage. Without the causation being proved, damages would not be awarded to the plaintiff.
- Anchin LFVS BriefingMarch 12, 2018
The Litigation, Forensic and Valuation Services Group of Anchin, Block & Anchin is often retained by counsel to help compute or refute damages allegedly caused by a negligent act or breach of duty. However, in order for there to be damages, the plaintiff must demonstrate that there was a proximate cause between the alleged negligence and the alleged damages.
- Claim Dismissed Due to Lack of Determined ExpertiseFebruary 20, 2018
It is extremely important that the testifying expert is a technical expert in the field in which he or she is testifying with demonstrated work history.
- Arbitral Award Upheld Except for Post-Judgment InterestJanuary 5, 2018
Members of Anchin Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators in commercial disputes. Sometimes, the claimant in a case will ask for pre-award and/or post-judgment interest in addition to the principal amount of its claim. The arbitrator has to determine if such interest should be awarded and, if so, at what interest rate.
- Summary Judgement Denied on Warranty Breach Claim Where Expert Opinion Raised Factual DisputeOctober 11, 2017
Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group are often called upon to serve as expert witnesses. As demonstrated in a case recently reported in the New York Law Journal, a testifying expert’s qualifications are extremely important as they go to the credibility of the witness’ testimony and cans sometimes have far reaching effects even before a trial begins.
- Arbitration Panel Did Not Exceed AuthoritySeptember 14, 2017
It is very difficult to have an arbitrator’s decision and award vacated. There are only a few circumstances in which a court will vacate an arbitrator’s decision and award. One of those circumstances is when the arbitrator or the arbitration panel exceeds authority.
- Suit Over Breach of Contract Stayed Pending ArbitrationAugust 3, 2017
When entering into a contract that contains a provision that requires arbitration for the resolution of disputes, the involved parties have, in fact, chosen to utilize an alternative dispute resolution to resolve conflicts instead of courtroom litigation. However, courts are supportive of arbitration as a means for resolving disputes and try, wherever possible, to uphold arbitration agreements.
- Arbitrator’s Award Over Gas Sensors Sold During ‘Earn Out’ Period ConfirmedJuly 6, 2017
Although arbitration awards can be challenged in court, these awards will only be overturned by the court in rare and limited cases. Courts will vacate or refuse to confirm an arbitration award if the award is the product of fraud, corruption, or serious misconduct by the arbitrator.
- Court Denies Plaintiff’s Motion to Set Aside Jury VerdictMay 30, 2017
Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group is often retained to determine damages in cases involving a breach of contract, a business interruption, a personal injury, a wrongful termination, a wrongful death, or other cases where damages are incurred by one party as a result of the actions of another party.
- Staying Cyber Safe While Traveling Outside of Your NetworkApril 28, 2017
A guide for understanding criminal infiltration tactics, including methods to avoid potential breaches to help achieve safe, secure device usage
- Arbitration Compelled After Parties Did Not Try to Arbitrate in Good FaithApril 14, 2017
Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators. Alternative dispute resolution is an increasingly popular alternative to traditional litigation. Courts are very reluctant to allow parties to an agreement to litigate if an agreement between the parties requires that disputes be arbitrated.
- Husband Fails to Show Circumstance Change and Downward Modification of Support DeniedApril 4, 2017
Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group is often retained to assist attorneys who are handling matrimonial and family law matters that involve financial considerations. At times, counsel requires our assistance in arguing against one spouse’s attempt to have a downward modification in maintenance and/or child support.
- Petition to Vacate Arbitration Award DismissedMarch 16, 2017
Members of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group often serve as arbitrators. Alternative dispute resolution is an increasingly popular alternative to traditional litigation. Although the courts may be asked to review the validity an arbitrator’s award, unless there are unusual and extenuating circumstance, they will rarely overturn such awards.
- Conflicting Expert Opinions Preclude Summary Judgment DismissalMarch 7, 2017
Frequently, as part of our litigation, forensic and valuation services practice, we are called upon to issue expert reports. As can be imagined, it is common that the opinions expressed in the expert reports for each side are very different (reasonable professionals can disagree, right?). However, it is interesting to consider how much of an impact those different opinions can have on the case process.
- Defendant’s Participation in Litigation Waives Right to Compel ArbitrationFebruary 16, 2017
In our litigation, forensic and valuation services practice, we are often involved in cases where there is a question of whether or not an arbitration provision in an agreement can be enforced.
- Arbitration Panel’s Award Determined to be a Reasoned AwardFebruary 8, 2017
When a member of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group serves as an arbitrator, one of the things he or she needs to consider is whether his or her decision should be contained in a simple award or in a reasoned award; if the latter, how much detail needs to be included in the reasoned award.
- Prejudgment Interest Computed from Date of Damages Verdict, Not From Date of Liability StipulationJanuary 3, 2017
The litigation consultants and forensic accountants in Anchin’s Litigation, Forensic and Valuation Services Group are often confronted with the calculation of prejudgment interest. When dealing with the issue of prejudgment interest, a critical question that must be answered is from what date is the prejudgment interest computed.
- COVID-19 Update Center
The Anchin COVID-19 Update Center is available to simplify your access to critical financial information. It is updated regularly to supplement your communications with your
- Anthony Bracco, Leader of Anchin's Litigation, Forensic, Valuation Services GroupMay 12, 2020
Anthony Bracco describes the wide range of services his group provides to litigators and business owners.
- How Can LFVS Help Clients Mitigate Business Risk?December 4, 2019
Anthony Bracco explains how Anchin's Litigation, Forensic and Valuation Services Group helps clients mitigate business risk and strengthen internal controls.
- Reasons Why Internal Controls FailJune 6, 2017
Why do internal controls fail? Anthony Bracco, Partner and Practice Leader of Anchin's Litigation, Forensic and Valuation Services Group, discusses recommendations for identifying and correcting weaknesses in organizations.
- 5 Things To Keep In Mind About CybersecurityJune 6, 2017
Anthony Bracco, Partner and Practice Leader of Anchin's Litigation, Forensic and Valuation Services Group, offers the top 5 things to think about when developing a cybersecurity strategy to protect a business' assets.