$7B in Government Contracts, Millions in Hidden Income

Douglas Edelman was once a major player in the defense contracting world, securing $7 billion in government contracts. Today, he's at the center of one of the largest tax evasion scandals in U.S. history. Back in 2001, Edelman’s companies, Mina Corp. and Red Star Enterprises, landed deals to supply jet fuel to U.S. troops in the Middle East, earning him a trusted reputation in Washington. 

However, behind the scenes, Edelman was allegedly using offshore entities and complex financial structures to hide more than $350 million in income. Concurrently, he boldly lived a lavish lifestyle that included luxury real estate and multiple yacht purchases.

After flying under the radar for more than twenty years, Edelman was formally indicted for tax evasion in 2024. 

This case underscores the importance of continuous oversight and proactive risk monitoring in preventing financial fraud.

Regularly refreshed background checks could have revealed patterns of behavior via Edelman's extravagant property purchases, offering strong indicators that he was living far beyond his claimed means. Continuous subject monitoring would have picked up on a 2020 civil lawsuit brought against him when it first hit the courts, a red flag that could have triggered deeper scrutiny well before the IRS stepped in.

Without a robust due diligence process, financial misconduct can go unnoticed for years. Governments, businesses, and investors need smarter, more proactive risk detection. Intelligo’s AI-driven due diligence platform helps organizations uncover hidden risks with deep background checks and continuous subject monitoring so you can stay ahead of financial threats. Schedule your free demo today.