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GE has been targeted with a report by the forensic accountant who exposed the Bernie Madoff scheme. Harry Markopolos says that GE's accounting is hiding a mountain of losses, which GE denies.
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 ...
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. [109] Ultimately, WorldCom admitted to inflating its assets by $11 billion. [110]
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 ...
While it shouldn’t come as a surprise for an organization that has famously failed to ever pass an audit, the Pentagon was nevertheless able to shock some observers this week with a new batch of ...
New York v. Trump is a civil investigation and lawsuit by the office of the New York Attorney General (AG) alleging that individuals and business entities within the Trump Organization engaged in financial fraud by presenting vastly disparate property values to potential lenders and tax officials, in violation of New York Executive Law § 63(12).
A former technology executive has pleaded guilty to a single count of fraud involving a scheme to artificially inflate the share price of photo and video distributor , federal officials said Friday.
Cynthia Cooper is an American accountant who formerly served as the Vice President of Internal Audit at WorldCom.In 2002, Cooper and her team of auditors worked together in secret and often at night to investigate and unearth $3.8 billion in fraud at WorldCom [1] which, at that time, was the largest corporate fraud in U.S. history.