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A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved some type of false or inappropriate accounting (see list at accounting scandals).
[11] [12] JPMorgan denied the first news reports, with Chairman and CEO Jamie Dimon calling it a "tempest in a teapot". [13] [14] Major losses of $2 billion were reported by the firm in May 2012 in relation to these trades. By this point, the issue was being investigated by the Federal Reserve, SEC, and FBI. [15]
The police are investigating whether he worked alone, and whether any investors outside of Société Générale may have been tipped in advance. Police are interested whether others were involved in either the trades themselves, or received notice of the bank's impending sell-off before the details of the scandal were publicly disclosed. [20]
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The leak, released by whistleblower Frances Haugen, resulted in reporting from The Wall Street Journal in September, as The Facebook Files series, as well as the Facebook Papers, by a consortium of news outlets the next month. Primarily, the reports revealed that, based on internally-commissioned studies, the company was fully aware of negative ...
The Enron scandal was defined as being one of the biggest audit failures of all time. The scandal included utilizing loopholes that were found within the GAAP (General Accepted Accounting Principles). For auditing a large-sized company such as Enron, the auditors were criticized for having brief meetings a few times a year that covered large ...
Corporate profits drove 53% of inflation during the second and third quarters of 2023 and more than one-third since the start of the pandemic, the report found, analyzing Commerce Department data.
The recent scandals rocking Miami government have engulfed two scions of local political dynasties and a third politician who has been a proud chaos agent for 40-plus years.