McKinsey & Co., is facing a federal criminal investigation of its conduct advising bankrupt companies
The investigators are investigating if McKinsey used its influence over insolvent companies in violation of the rules of Chapter 11 bankruptcy — where billions of dollars can change hands — by quietly steering valuable assets to itself or favoring its own clients over other creditors.
The U.S. attorney’s office in Manhattan last year called McKinsey Headquarters and since then nothing is revealed about the inquiry said a top McKinsey official. In the past two weeks, investigators have conducted interviews about McKinsey’s actions in the bankruptcies of at least two companies, Alpha Natural Resources, a coal producer, and SunEdison, an alternative energy company revealed an insider who was questioned by FBI earlier.
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