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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]
Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Peregrine Systems [8] [10] corporate executives convicted of accounting fraud; Phar-Mor [8] company lied to shareholders. CEO eventually sentenced to prison for fraud and company eventually became bankrupt; Qwest Communications [10] RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in California
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 ...
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 ...
Jeffrey Skilling is an American former CEO of Enron Corporation, convicted of securities fraud (and other crimes) for his part in the 2001 Enron scandal, a $63.4 billion bankruptcy ($109.1 billion today).
In the latest case, Leonardo Ayala, 24, who worked at a TD Bank outlet in Doral, Florida between February and November 2023, is accused of assisting a money laundering network by issuing dozens of ...
S. SafeMoon; Salad oil scandal; Sampoong Department Store collapse; Saradha Group financial scandal; Robert Schuyler; ScotiaMocatta; Seongsu Bridge disaster