Episode #85
Private Equity Valuation with Ken Pia, CPA, ASA, ABV
The money is usually there - it’s just hiding in plain sight. Forensic accountant and valuation expert Ken Pia breaks down how lawyers actually find unreported assets, trace money through messy records, and uncover the kinds of financial moves people think no one will spot. If you handle divorce, litigation, or any case where the numbers matter, this conversation is packed with practical insight. Sean and Ken go from the basics of forensic accounting to the real-world methods experts use to follow the money, spot red flags, and separate what’s legitimate from what’s been buried, borrowed, or disguised. You’ll discover: What forensic accounting really is and why it’s much more than “checking the books” How tax returns become a roadmap for tracing bank accounts, investments, and spending The common hiding places people use, from offshore claims to loans, trusts, and business expenses Why people are usually worse at hiding money than they think How credit reports, public databases, and financial statements work together to expose inconsistencies Sean and Ken also unpack the world behind private equity, venture capital, and hedge funds in a way that actually makes sense. Ken explains how these structures work, why startup or loss-making companies still may have real value, and how carried interest, management fees, and fund-level ownership all factor into valuation. Ken is a CPA and business valuation expert with the credentials ABV, ASA, and MCBA , and he’s one of the authors of A Lawyer’s Guide to Understanding Hedge Fund, Private Equity and Venture Capital Valuation . He brings deep experience from litigation, matrimonial matters, and complex business valuation. Sean keeps the conversation accessible with the kinds of questions lawyers are actually asking in practice. This episode matters because misunderstanding hidden assets or alternative investments can distort a case, derail settlement, or leave value on the table. If you’ve ever wondered how experts really untangle financial smoke and mirrors, or how to explain a private equity interest without getting buried in jargon, this is the episode to hear. Perfect for family lawyers, litigators, forensic accountants, and anyone trying to make sense of complex financial structures without needing a finance degree. You’ll leave with a clearer framework for spotting where value lives, how it moves, and why the right expert can change the outcome. Here is a link to Ken's book: https://www.americanbar.org/products/inv/book/456813724/
