Nestled inconspicuously on a quiet byroad near Chancery Lane stands an unremarkable building. Its unassuming location in the heart of London’s financial district, coupled with its austere iron-grey façade, appears to be a conscious choice rather than mere coincidence. This is the headquarters of Nardello & Co, a relatively lesser-known entity within London’s financial and legal landscape, operating in the niche field of corporate espionage for hire.
This realm is inhabited by professionals well-versed in the trade of intelligence. Drawing expertise from legal firms, law enforcement agencies, and government bodies, these experts are enlisted by major corporations to extract elusive, sensitive information. Their scope encompasses allegations spanning from sexual misconduct to sanctions breaches, asset tracking, fraud, and corruption.
Daniel Nardello, the architect behind the company, is a former US prosecutor, exuding the self-assured demeanor of a courtroom orator ready to deliver a closing argument. At his side is Sabina Menschel, the poised and measured President and COO. Together, their responses interlock seamlessly, evoking a sense of practiced synergy.
While Nardello & Co predominantly operates in the shadows, their recent high-profile assignment has thrust them into the limelight: aiding the defunct crypto exchange FTX. Following the arrest of its founder, Sam Bankman-Fried, the firm was enlisted by FTX’s new management to trace the remnants of the exchange’s global assets. The objective is to discern salvageable assets from the wreckage to benefit the exchange’s creditors. However, confidentiality constraints shroud their revelations, and the unspoken exchange of glances hints at a tumultuous journey.
Media outlets globally have extensively dissected the vibrant Neverland constructed by Bankman-Fried, who faces charges of employing stolen funds for political donations. This setting was established at a Bahamas penthouse where he and his youthful management team resided while orchestrating business operations.
Nardello, a former federal prosecutor in the US attorney’s office for the southern district of New York, boasts a resume that includes prosecuting securities and commodities fraud in one of the world’s premier financial districts. Menschel, with a brief stint at the FBI and an extensive career as an analyst at Kroll, a firm offering similar corporate investigation services, complements the team.
The US operations comprise several ex-prosecutors and analysts, while the UK branch frequently recruits linguistically adept graduates. The firm’s specialization spans fraud and corruption investigations, but it also keeps an eye on potential public relations disasters. Their website boldly advertises expertise in “finding the skeletons in your closet – before the media does”.
Former investigative journalists are also part of their roster, often engaged to uncover the source of press leaks and any related insider trading activities. “We conduct numerous leak investigations. Interestingly, during Covid, this intensified. Many of these were for media organizations”, notes Nardello. Menschel adds, “Leaks from within media organizations”.
“Leak investigations are intricate endeavors. It requires significant luck to conclusively identify the source of leaks”, Nardello remarks. Menschel elaborates on the synergy between traditional investigative practices and cyber forensics, ascertaining external connections and delving into internal systems, a task often hindered by the complexity of computer forensics.
The evolving geopolitical landscape following Russia’s incursion into Ukraine has opened up new avenues of work, including identifying sanctions violators. Companies seeking to decipher how competitors undercut prices have enlisted Nardello’s expertise to assess potential sanctions circumvention.
The scrutiny of the “weaponization of sanctions” presents both an intellectually stimulating endeavor and a lucrative pursuit, Nardello explains. Though popular perception of private investigators often involves physical surveillance, Nardello routinely steers clients away from such traditional methods.
“Physical surveillance is unwieldy, unpredictable, and expensive. It involves managing teams of individuals rather than a lone operative,” Nardello points out. Menschel adds, “Some individuals are drawn to the notion, but it often lacks practicality”.
In an era of advancing technological capabilities, Nardello & Co navigates the complexities of corporate intrigue, striking a balance between tradition and innovation, all while remaining in the shadows of London’s bustling financial district.
