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A month earlier, the company's internal auditors discovered over $3.8 billion in illicit accounting entries intended to mask WorldCom's dwindling earnings, which was by itself more than the accounting fraud uncovered at Enron less than a year earlier. [111] Ultimately, WorldCom admitted to inflating its assets by $11 billion. [112]
Peregrine Systems [8] [10] corporate executives convicted of accounting fraud; Phar-Mor [8] company lied to shareholders. CEO was eventually sentenced to prison for fraud and the company eventually became bankrupt; Qwest Communications [10] RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
Austal USA, an Alabama-based shipbuilder that makes vessels for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation, the U.S ...
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Victims of one of the biggest frauds in US history set to recover more than 90% of proven losses. Madoff fraud victims get $4.3bn as fund completes payouts Skip to main content
Sears, Roebuck & Company, pleaded guilty to 1 count of fraud. [8] The Trump Organization, convicted of tax fraud, scheming to defraud, conspiracy, and falsifying business records. [9] Tyson Foods; Volkswagen, pleaded guilty to 3 criminal felonies related to its emissions scandal. [10] Waste Management, Inc
Lowe, the former MoviePass CEO, pleaded guilty to securities fraud conspiracy in September 2024. The rise and fall of MoviePass. In 2017, HMNY became the parent company of MoviePass. Farnsworth ...