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Adani Group scandal: In January 2023, Hindenburg Research revealed that it had short positions in India's Adani Group, alleged to be a close ally of Narendra Modi's administration, [97] and flagged debt and accounting concerns. Concurrently, Hindenburg released a report claiming that Indian conglomerate Adani Group "has engaged in a brazen ...
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time. From 1999 to 2002, senior executives at WorldCom led by founder and CEO Bernard Ebbers orchestrated a scheme to inflate earnings in order to maintain WorldCom's stock ...
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.
The Complaint alleged that the WorldCom Retirement Plan administrators were WorldCom insiders who knew or had reason to know that the price of WorldCom stock was artificially high because public statements concerning the Company's business and prospects were false or misleading to investors. When the facts became public, the stock plummeted ...
Dutch East India Company: Batavian Republic: 31 December 1799: Colonialism: This huge early publicly listed multinational company founded in 1602 fell victim to declining markets in the late 18th century, internal corruption and excessive distribution of dividends (in excess of its profits), and finally Anglo-Dutch wars.
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]
Hoppen lodged a further claim against the News of the World and one of its reporters, Dan Evans, for "accessing or attempting to access her voicemail messages between June 2009, and March 2010". [94] News International has not admitted liability in relation to the claim. [90] [94]
The Bank Bali scandal occurred in Indonesia in 1999 when Golkar Party officials colluded with the Indonesian Bank Restructuring Agency (IBRA) to coerce Bank Bali chief Rudy Ramli to pay an illegal commission of Rp546 billion (then equivalent to about US$80 million) to private company Era Giat Prima in order to collect Rp904.6 billion owed by two banks taken over by IBRA.