Search results
Results from the WOW.Com Content Network
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]
List of bank failures in the United States (2008–present) List of largest U.S. bank failures; List of sovereign defaults; List of stock market crashes and bear markets; List of UK businesses entering administration during 2008–2009 financial crisis; List of accounting scandals; List of defunct airlines; Agency cost; Center for Audit Quality ...
In February 2011, the SEC charged DHB Industries, a major supplier of body armor to the U.S. military and law enforcement agencies, for engaging in a large accounting fraud, and in addition separately charged three of DHB's former outside directors and audit committee members for their complicity in the scheme. [28]
Accounting scandals (1 C, 74 P) C. Corporate scandals by country ... 1992 Indian stock market scam; 2003 mutual fund scandal; 2009 Peanut Corporation of America recall;
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.
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 ...
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.
The office of the U.S. Attorney for Massachusetts first began investigating Kabbage in December 2020 for potential violations of the False Claims Act, which punishes government fraud.