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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 ...
The scheme erased more than $3.3 million worth of debts, Texas authorities said. Woman fakes 133 police reports to erase millions in debts, Texas cops say Skip to main content
In the meantime, related rulings were handed down in a civil case that had been brought against the Internal Revenue Service in late 2004 by two Texas lawyers, Harold W. Nix, and C. Cary Patterson. Nix and Patterson sued the IRS for refunds after the tax agency denied each of their claims for nearly $67 million in deductions stemming from their ...
Alleged fraud was the cause of the failure of The First National Bank of Lindsay, according to the FDIC. ... The Enloe State Bank in Cooper, Texas, failed after a fire in the bank’s board room ...
Federal prosecutors have dismissed a securities and accounting fraud case against two former top executives of Celadon Group Inc., an Indianapolis-based trucking and transportation company that ...
Ramón Báez Figueroa, banker from the Dominican Republic and former President of Banco Intercontinental (BANINTER), charged in 2003 and later sentenced to 10 years in prison for a U.S. $2.2 billion fraud case ($3.6 billion
Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.