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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 ...
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]
BF Borgers, Trump Media & Technology Group’s independent accounting firm, was charged by the Securities and Exchange Commission on Friday with widespread fraud impacting more than 1,500 filings.
Those reports show that many deficiencies hardly constitute fraud: for example, PwC reported a technical violation where an employee’s spouse had a balance on Venmo while the employee was ...
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 ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
Fraud alleged to have impacted upwards of 500 public companies, according to Securities and Exchange Commission Accounting firm used by Trump Media hit with ‘massive fraud’ charge Skip to main ...
On December 19, 2012, UNC released a report, commissioned by former North Carolina governor Jim Martin, in collaboration with accounting firm Baker Tilly Virchow Krause, LLP. The report examined data back to the 1990s. Among its findings: Student-athletes were disproportionately enrolled in suspect classes. [2]