1.Waste Management Scandal (1998):
Company name: Houston- based publicly traded waste management company.
What is happened: Reported $1.7 billion fake earnings.
Main of players: Founder/ CEO/ Chairman Dean L. Buntrock and top executive.
2.Enron scandal (2001)
Company name: Houseton based commodities, energy and service corporation.
What is happened: Shareholders lost $74 billion thousands of employees and investors lost their retirement accounts and many employees lost their jobs.
Main of players: CEO Jeff Skilling, and former CEO Ken Lay.
3.Worldcom (2002):
Company name: Telecommunication company, now MCI. Inc
What is happened: Inflated assets by as much as $11 billion, leading to 30,000 lost jobs and $180 billion in losses for investors.
Main of player: CEO Bernie Ebbers.
4.TYCO Scandal (2002):
Company name: New- Jersey based blue chip Swiss security systems company.
What is happened: CEO Denis Kozlowski and former CFO Mark Swartz.
5.Healthsouth Scandal (2003):
Company name: Largest publicly traded health care company in the U.S.
What is happened: Earnings numbers were allegedly inflated $1.4 billion to meet stockholder’s expectation.
Main of player: CEO Richard Scrushy
6. Freddie Mac Scandal (2003):
Company name: Federally- backed mortgaged financing company
What is happened: $5 billion of earnings were misstated
Main of players: President/ COO: David glenn, Chairman/ CEO Leland Brendsel, ex- CFO Vaughn Clarke, former Sr. VPs Robert Dean and Nazir Dossani
7.American Insurance Group Scandal (2005):
Company name: Multinational insurance corporation
What is happened: Massive accounting fraud to the tune of $3.9 billions was alleged, along with bid- rigging and stock price manipulation
Main of players: CEO Hank Greenbarg
8.Lehman Brothers Scandal (2008):
Company name: Global financial services firm
What is happened: Hid over $50 billion in loans disguised as sales.
Main of players: Lehman executives and the company’s auditors Ernest & Young.
9.Bernie Madoff Scandal (2008):
Company name: Bernard L. Madoff Investment Securities LLC, a Wall Street investment firm founded by Madoff.
What is happened: Tricked investors out of $64.8 billion through the largest Ponzi scheme ever.
Main of players: Bernie MadOff, his accountant David Friehling and Frank DiPascalli.
10.Satyam Scandal (2009):
Company name: Indian IT services and bank accounting firm
What is happened: falsely boosted revenue of $1.5 billion
Main of player: Founder/ Chairman Ramalinga Raju
Company name: Houston- based publicly traded waste management company.
What is happened: Reported $1.7 billion fake earnings.
Main of players: Founder/ CEO/ Chairman Dean L. Buntrock and top executive.
2.Enron scandal (2001)
Company name: Houseton based commodities, energy and service corporation.
What is happened: Shareholders lost $74 billion thousands of employees and investors lost their retirement accounts and many employees lost their jobs.
Main of players: CEO Jeff Skilling, and former CEO Ken Lay.
3.Worldcom (2002):
Company name: Telecommunication company, now MCI. Inc
What is happened: Inflated assets by as much as $11 billion, leading to 30,000 lost jobs and $180 billion in losses for investors.
Main of player: CEO Bernie Ebbers.
4.TYCO Scandal (2002):
Company name: New- Jersey based blue chip Swiss security systems company.
What is happened: CEO Denis Kozlowski and former CFO Mark Swartz.
5.Healthsouth Scandal (2003):
Company name: Largest publicly traded health care company in the U.S.
What is happened: Earnings numbers were allegedly inflated $1.4 billion to meet stockholder’s expectation.
Main of player: CEO Richard Scrushy
6. Freddie Mac Scandal (2003):
Company name: Federally- backed mortgaged financing company
What is happened: $5 billion of earnings were misstated
Main of players: President/ COO: David glenn, Chairman/ CEO Leland Brendsel, ex- CFO Vaughn Clarke, former Sr. VPs Robert Dean and Nazir Dossani
7.American Insurance Group Scandal (2005):
Company name: Multinational insurance corporation
What is happened: Massive accounting fraud to the tune of $3.9 billions was alleged, along with bid- rigging and stock price manipulation
Main of players: CEO Hank Greenbarg
8.Lehman Brothers Scandal (2008):
Company name: Global financial services firm
What is happened: Hid over $50 billion in loans disguised as sales.
Main of players: Lehman executives and the company’s auditors Ernest & Young.
9.Bernie Madoff Scandal (2008):
Company name: Bernard L. Madoff Investment Securities LLC, a Wall Street investment firm founded by Madoff.
What is happened: Tricked investors out of $64.8 billion through the largest Ponzi scheme ever.
Main of players: Bernie MadOff, his accountant David Friehling and Frank DiPascalli.
10.Satyam Scandal (2009):
Company name: Indian IT services and bank accounting firm
What is happened: falsely boosted revenue of $1.5 billion
Main of player: Founder/ Chairman Ramalinga Raju
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