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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 ...
After Suharto's resignation as president, calls for his arrest on the basis of corruption emerged. People's Consultative Assembly decree No. XI/MPR/1998 declared that attempts to eradicate corruption must include investigations into Suharto.
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.
In July 2002, WorldCom filed for bankruptcy protection in what was considered at the time as the largest corporate insolvency ever. [108] 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 ...
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 ...
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.
The 2G spectrum case was a political controversy in which politicians and private officials of the United Progressive Alliance (UPA) coalition government India were allegedly involved in [1] selling or allotting 122 2G spectrum licenses on conditions that provided an advantage to specific telecom operators.
The fraud began to unravel rapidly beginning on March 19, 1997, when Bre-X geologist Michael de Guzman reportedly died of suicide by jumping from a helicopter in Indonesia. [11] [12] A body was found four days later in the jungle, missing the hands and feet, "surgically removed". [13] In addition, the body was reportedly mostly eaten by animals ...