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About Us 2016-10-14T17:56:51+00:00

Chakonis & Pettit, LLC

Chakonis & Pettit, L.L.C. is a forensic accounting and consulting firm that dedicates its practice entirely to insurance claims, litigation support and investigative accounting. The firm prides itself on having a substantial complement of experience with organizations of all types and sizes such as manufacturing, wholesalers, retailers, financial institutions, telecommunications, services providers, medical/hospitals, automotive, construction companies and professional sports entities. Many of our assignments have involved depositions and expert testimony as well as overseas travel.

Forensic accounting requires investigative skills combined with the extensive expertise, education and experience of a veteran accounting firm. We translate or reconstruct financial data into qualitative data documenting hidden truths, undiscovered assets and loss of income. As forensic accountants, we provide expert testimony and valuations vital to the judicial process, private business and the insurance industry.

Chakonis & Pettit, L.L.C. was originally founded in 1995 as Chakonis & Company. At that time our managing partner, Michael S. Chakonis, CPA, saw an opportunity to utilize his broad range of experience gathered while working for the industry leader by starting his own company. Since then the company has expanded and in 2001 added Edward A. Pettit, Jr., CPA to its staff and eventually as a partner in 2008. At this time the firm continues to expand and create opportunities to assist our clients.

Our Team

Michael S. Chakonis, CPA
Michael S. Chakonis, CPAManaging Partner
Since 1984 Mr. Chakonis has gained diversified experience in forensic accounting including the measurement of damages of domestic and international commercial claims. The assignments consisted of insurance claims, litigation support, fidelity losses, determination of financial motive, wrongful deaths & discharges, business valuations and loss of earnings. Many of these assignments involved deposition and expert testimony as well as overseas travel.

On December 1, 1995, Mr. Chakonis left the firm of Campos & Stratis and formed the CPA firm of Chakonis & Becker which is currently named Chakonis & Pettit, LLC. Chakonis & Pettit is a forensic accounting firm specializing in the measurement of damages.

Bachelor of Business Administration – 1984 – Pace University, Pleasantville, New York
Managing Partner, Chakonis & Pettit, LLC, Certified Public Accountants
Former Partner, Chakonis & Becker/Chakonis & Company, Certified Public Accountants
Former Partner, Campos & Stratis, Certified Public Accountants
Certified Public Accountant in New Jersey
Member, American Institute of Certified Public Accountants
Member, New Jersey Society of Certified Public Accountants
Member, The Institute of Business Appraisers, Inc.
Appointed by the Supreme Court of NJ to the Attorney’s Fee Arbitration Committee
Chakonis & Pettit LLC – January 1, 2008 – Current
Chakonis & Co. CPA’s – September 2001 – December 31, 2007
Chakonis & Becker CPA’s – December 1995 – September 2001
Campos & Stratis CPA’s 1984 – November 1995

Partner – Mr. Chakonis directs investigative audits, supervises forensic accounting assignments, performs business valuations and measures damage claims. This includes analysis of claims of lost profits/earnings, valuation of assets and businesses, property damage and extra expenses. Mr. Chakonis also has expertise in the area of business valuations and personal injury as well as the banking, medical and food industries. The size of the assignments has ranged from $10,000 to claims in excess of $450,000,000. Some of the larger claims were for Banker’s Trust, Citigroup, Salomon Smith Barney, Credit Suisse First Boston, Major League Baseball, CalPERS & Children’s Hospital. Clients include AIG, CNA, Chubb, Hanover, PLM, Travelers, New Jersey School Board, RCA, Utica, among others.

Mr. Chakonis has participated in the preparation and presentation of seminars given to the staff, other CPA’s as well as the insurance industry.

Since 1982 Mr. Pettit has gained diversified experience in the financial industry including evaluating the financial strength and profitability of a wide variety of domestic businesses. Since 2001 his experience has been concentrated in the field of forensic accounting measuring damages of insurance and litigation based claims. The assignments consisted of insurance claims, litigation support, business valuations and loss of earnings.

On October 29, 2001, Mr. Pettit left the financial services industry to join the forensic accounting firm of Chakonis & Co. as a manager. On January 1, 2008, the firm changed its name to Chakonis & Pettit, L.L.C. upon Mr. Pettit attaining designation as a partner.

Masters of Business Administration, Finance – 1989 – Fairleigh Dickinson University, Rutherford, New Jersey.

Bachelor of Business Administration – 1982 – Montclair State College, Upper Montclair, New Jersey.

Partner, Chakonis & Pettit, L.L.C., Certified Public Accountants
Former Vice President, PNC Bank
Former Vice President, Bergen Commercial Bank
Former Assistant Vice President, Chemical Bank
Former Assistant Vice President, Independence Bank of New Jersey
Former Credit Analyst, Barclays Bank International
Certified Public Accountant in New Jersey
Member, New Jersey Society of Certified Public Accountants
Chakonis & Pettit, L.L.C., CPA’s (and predecessor entity) – October 2001 – Current
PNC Bank – July 1998 – October 2001
Bergen Commercial Bank – August 1995 – July 1998
Chemical Bank – March 1993 – August 1995
Independence Bank of New Jersey – October 1986 – March 1993
Barclays Bank International – August 1982 – October 1986

Partner – Mr. Pettit performs and supervises investigative audits conducted in connection with the measurement of damages claims and performs business valuations. This includes analysis of claims of lost profits/earnings, valuation of business assets, property damage, extra expenses and analyzing white collar crime and matrimonial matters. Mr. Pettit has expertise in the area of business valuations as well as the banking, medical, recreation, food industry, country clubs and resorts. The size of the assignments has ranged from $10,000 to in excess of $300,000,000. Some of the larger claims were for Citigroup, Inc., Credit Suisse First Boston, The California Public Employees Retirement System, Public Storage, Inc., Silverstein, Zales Corp., and Major League Baseball.

Mr. Pettit has participated in the preparation and presentation of seminars given to the staff as well as the insurance industry.
Edward A. Pettit, Jr., CPA, MBA
Edward A. Pettit, Jr., CPA, MBAPartner
Susan FennimoreManager
David C. Terwilliger, MS, CFEManager

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