Keith Elliott, CFE

Keith Elliott, CFE, manages corporate and insurance fraud cases as the president and CEO of Reed Research Investigations in Ontario, Canada. A proud father and scuba-diving enthusiast, Elliott also teaches seminars on various fraud topics and has spoken at multiple ACFE Global Fraud Conferences and ACFE Fraud Conference Canada events.

Interview by Anna Brahce

I grew up in Toronto, Canada. My family spent weekends, holidays and summers at our lake cottage in Muskoka, Ontario, where we enjoyed camping, fishing, swimming, snowmobiling, and water and snow skiing.

Ever since I can remember, I’ve had an innate desire to distinguish right from wrong. My mentors, including some who worked in law enforcement, helped instill in me a strict moral compass and determination to do the right thing.  

As the president and CEO of Reed Research Investigations, I oversee client development, case intake and consultation, and case management. I consult with clients on fraud development programs and teach seminars on various fraud topics. I assist on investigations regularly, and I keep my skills sharp by completing an interview or assisting in surveillance when we need extra hands. 

My company largely investigates corporate fraud and litigation concerning injury claims. Our cases involve healthcare and insurance frauds, including staged automobile collisions. We conduct a variety of investigations for internal theft, fraudulent payment schemes and individual victims.  

Since red flags have already been raised about possible fraud when a file comes our way, we begin our investigations by completing a fulsome case review to determine the most accurate picture and context for the situation. We identify the strengths, weaknesses, opportunities and threats (SWOT analysis) surrounding the case, and address the time, scope and cost to assess next steps.  

My most memorable case involved a fraudulent death claim involving a subject who applied for $3.5 million worth of life insurance from five different insurance companies over two years. Then, the subject and his wife staged his death with a fake heart attack while they were visiting Iran. Because there were conflicting details about the death, hospital, timing and locations, the death was considered suspicious, and the claim was denied. The wife disputed the denial of coverage and litigated, and the five insurance companies settled the case for $1.3 million. 

My team continued to investigate, and we found a house purchased in the wife’s name in Orange County, California, made after the settlement. We conducted surveillance in Ontario, Canada, and found one of her sons selling fake IDs, and through surveillance in California, we found a man who matched the allegedly deceased’s description driving another son to school. We collected DNA from gum the son in Ontario had discarded and from the subject in California through surveillance I conducted while he and his wife ate at a diner. 

The DNA samples were a parental match, showing the man in California was the “deceased” subject living under an alias. He and his wife were arrested in California and deported to Canada. They were tried and convicted of various counts of fraud, and each received 10 years in jail. Some of the money was recovered through forfeiture, but much of it had been sent to Iran.  

“The Crypto Bros” case, which involved a multilayered cryptocurrency and foreign currency investment Ponzi scheme and pyramid scheme, was another memorable case for me. Three young adults claimed they were making a fortune on investments and flaunted it on social media, depicting private jets, exotic cars like McLarens and Lamborghinis, rental mansions and global travel. They constantly sought more investors and extracted additional funds from them to furnish their extravagant lifestyle and pay back earlier investors.

The civil fraud recovery lawyer, Norm Groot, CFE, hired my team to seek recovery for some of the victims. Our work on this case eventually received national attention on “W5,” a Canadian investigative news and television program. This also prompted further police involvement and criminal charges. Two parties in the case are still awaiting trial, and the third fled to Dubai and has a warrant for his arrest. This case was featured in the opening keynote presentation at the 2025 ACFE Fraud Conference Canada.

A top lesson I’ve learned from working in the anti-fraud field is the importance of patience and perseverance. Properly investigating fraud doesn’t include taking shortcuts. I contributed a chapter about the necessity of patience and perseverance for maintaining investigative skills in “The Art of Investigation Revisited: Practical Tips from the Experts,” by Chelsea Binns, Ph.D., CFE, and Bruce Sackman.   

I first heard about the Association of Certified Fraud Examiners (ACFE) when some colleagues asked me to speak to an ACFE local chapter about 12 years ago. They encouraged me to attend an ACFE Global Fraud Conference. I then spoke at the 2015 ACFE Canadian Fraud Conference and the 27th Annual ACFE Global Fraud Conference in Las Vegas, Nevada, and have spoken and instructed at almost all of the annual and Canadian conferences since. 

After being part of the Certified Fraud Examiner (CFE) Job Analysis Task Force that updated the test outline for the CFE Exam in 2019, John D. Gill, J.D., CFE, approached me and encouraged me to acquire my CFE credential, which I earned in August 2022.  

Anyone with the CFE credential understands what it takes to acquire it and the annual education required to keep it. That shared recognition is an easy gateway into discussions with fellow professionals who recognize and respect your level of expertise.

The CFE credential has benefited my career because it’s recognized globally as the gold standard of excellence for fraud investigators. Anyone with the CFE credential understands what it takes to acquire it and the annual education required to keep it. That shared recognition is an easy gateway into discussions with fellow professionals who recognize and respect your level of expertise.

The best advice I can give to anyone new to the fraud-fighting field is to network and stay patient. Many of the connections I have today are relationships established over the last 30 years. It’s also important to have the patience to learn, evolve and understand new and adapting fraud schemes.   

Fighting fraud requires long hours, dedication and a multitude of skill sets. It can seem daunting and overwhelming. I’ve learned that I can’t do it alone, and I often bring in other colleagues to provide additional insight when a solution isn’t clear. The long hours and involved processes require fine-tuning schedules and time management. It’s also important to have a work-life balance and take care of yourself and those around you.

I consider my greatest achievement in life to be the 35-year relationship with Helen, my life partner and wife of 30 years, and the family we created with our three children. I’ve always believed that success as a parent requires raising children you want to be around when they’re adults. Our relationship has fed, fostered and flourished three children to become great individuals we love to be around. I’m proud of each of them and their chosen career paths as an architect, actuary and wildland firefighter. 

My greatest passion outside of work is scuba diving, and I’m currently working toward my master scuba diver designation. I love the feeling of being weightless and removed from distractions. The focus required in engaging in rhythmic, yoga-like breathing provides a stark contrast to my daily life, and it’s incredible to experience while watching different species of rays, turtles and sharks. The sharks underwater are much less threatening than the fraud sharks we investigate on land everyday as CFEs.   

Anna Brahce is the assistant editor of Fraud Magazine. Contact her at abrahce@ACFE.com.