List of corporate scandals

A corporate scandal is a scandal involving allegations of unethical behavior by people acting within or on behalf of a corporation. A corporate scandal sometimes involves accounting fraud of some sort. A wave of such scandals swept many United States companies in 2002 (see list at accounting scandals).

* 1 List of corporate scandals
o 1.1 Mutual funds
o 1.2 Insurance
* 2 See also
* 3 Related media
* 4 References

[edit] List of corporate scandals

* 2006 HP Spying Scandal[1]
* American Airlines, deferred maintenance of aircraft
* Adelphia scandal[2][3][4]
* AOL Time Warner[4]
* Arthur Andersen[4]
* BAE Systems bribery scandal related to the Al Yamamah contracts with Saudi Arabia.
* Bank of Credit and Commerce International scandal
* Barings Bank, derivatives trading scandal
* Bayer, links to Josef Mengele’s Auschwitz human experiments, HIV-tainted blood products, anti-Semitism, racism
* Bre-X scandal
* Bristol-Myers Squibb[4]
* Clearstream, which has been qualified as “the greatest financial scandal in Luxembourg” (Clearstream is a clearing house, i.e. sort of a “bank of banks”, used to centralize credit & debit between banks and other financial organizations). As of 2006, it hasn’t been resolved yet.
* Chiquita Brands International Financing terrorist organizations
* CMS Energy[4]
* Compass Group, bribed the United Nations in order to win business.
* Corrib gas controversy Kilcommon, Erris, Co. Mayo, Ireland.
* Deutsche Bank, spying scandal
* Duke Energy[4]
* Dynegy[4]
* El Paso[4]
* Enron accounting fraud, involving Arthur Andersen[2][3][4]
* Exxon overreporting of oil reserves
* Fannie Mae underreporting of profit
* Firestone Tire and Rubber Company for use of child labor
* FlowTex, the largest corporate scandal in German history
* Ford Pinto scandal
* Global Crossing[4]
* Guinness affair
* Hafskip’s collapse
* Halliburton[3][4] overcharging government contracts
* Harken Energy Scandal[3]
* IG Farben, participation in the Holocaust
* Kerr-McGee, the Karen Silkwood case
* Kmart[4]
* Krupp, participation in arming Nazi Germany and in the Holocaust
* Lernout & Hauspie accounting fraud
* Lockheed bribery scandal in Germany, Japan, and Netherlands
* Merck[4]
* MG Rover Group accounts and pensions scandal
* Mirant[4]
* Morrison-Knudsen scandal. Led to William Agee’s ouster
* Nicor Energy[4]
* Nortel executives overstate post-dot-com recovery earnings in order to earn bonuses[2]
* One.Tel collapse
* Options backdating involving over 100 companies
* Parmalat[3] accounting scandal & mutual fund fraud
* Peregrine Systems[3][4] corporate executives convicted of accounting fraud
* Phar-Mor[3] company lied to shareholders. CEO eventually sentenced to prison for fraud and company eventually became bankrupt.
* Qwest Communications[4]
* RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in California
* Refco, Inc. commodities & futures scandal involving hidden debts involving underwritting firms Credit Suisse First Boston, Goldman Sachs, Bank of America Corp.
* Reliant Energy[4]
* Rite Aid[3] accounting fraud
* Royal Dutch Shell overstated its oil reserves twice, it downgraded 3.9 billion barrels, or about 20 percent of its total holdings.
* Salad oil scandal, where millions in loans were obtained on largely nonexistent inventories of salad oil
* Société Générale, derivatives trading scandal causing multi-billion euro losses.
* Southwest Airlines, violations of safety regulations.
* Tyco International[3][4]
* Union Carbide, the Bhopal disaster.
* ValuJet Airlines, loading live oxygen generators into cargo hold of passenger jet causing fatal crash
* WorldCom[2][3][4]
* Xerox[3][4] alleged accounting irregularities involving auditor KPMG, causing restatement of financial results for the years 1997 through 2000 and fines for both companies.[2]
* David Wittig scandal
* Northern Rock, United Kingdom
* Satyam Computers, India
* S-Chips Scandals, Singapore

[edit] Mutual funds

* Epicurum fund/Parmalat
* Mutual-fund scandal (2003)

[edit] Insurance

* AIG[3]
* Marsh & Mclennan
Source : Wikipedia


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