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Background Checks

Even Billionaires Need Background Checks

Mikhail Prohkorov wants to buy a basketball team.  Who doesn’t?    But Mikhail Prokhorov is a billionaire, reportedly the richest man in Russia.  According to the New York Times, Prokhorov wants to buy 80% of the New Jersey Nets and 45% of the Barclay’s Center, in Brooklyn.   This is no small investment.

So the N.B.A. has wisley required background checks Prokhorov, as well as financial vetting or business research.   The Russian billionaire passed the initial background check.  He must now submit documents to the N. B.A.   In commenting on the league’s decision to go public with the results of the background search, N.B.A. Commissioner, David Stern, said,” we haven’t surfaced anything that has caused us to have a negative opinion of him.

Before you get involved with business partners, like the N.B.A., you should be conducting business research, including background checks on the corporate entity and all of its principals as well as a business credit report.  It’s smart business.  It is a good way to stay in business and to avoid catastrophe.

As for Mikhail Prokhorov,  I am sure he will be a significant assets to the growth and sustainability of the N.B.A.   Good luck to him with the Nets.

By Gordon Basichis

Gordon Basichis is the Co-Founder of Corra Group, specializing in pre-employment background checks and corporate research. He has been a marketing and media executive and has worked in the entertainment industry, the financial, health care and technology sectors. He is the author of the best selling Beautiful Bad Girl, The Vicki Morgan Story, a non-fiction novel that helped define exotic sexuality in the late twentieth century. He is the author of the Constant Travellers and has recently completed a new book, The Guys Who Spied for China, dealing with Chinese Espionage in the United States. He has been a journalist for several newspapers and is a screenwriter and producer.