Major Corporate Accounting Frauds
- Det. Mike
- Aug 25, 2019
- 1 min read
Updated: Sep 5, 2019
Mike has always been one to talk to himself...
Crime, what is a crime? - an action or omission which constitutes an offence and is punishable by law. No. Let's rephrase that, it doesn't sound right...
What is the PERFECT crime? Is it getting away with a felony, without a single trace of evidence, the perfect crime? Then what is morally right or wrong if it's possible to get away with fraud? Now that's something to think about.
These companies sure had it rough cause they couldn't commit a perfect crime.
Only the worst, of all time!
If there is one theme to rival terrorism for defining the last decade-and-a-half, it would have to be corporate greed and malfeasance. Many of the biggest corporate accounting scandals in history happened during that time. Here's a chronological look back at some of the best examples of the worst scandals.
References
The 10 Worst Corporate Accounting Scandals of All Time https://visual.ly/community/infographic/business/10-worst-corporate-accounting-scandals-all-time
Gives insight into the complexities involved in some of the worst corporate crimes
This provides a chronological look back at some of the worst corporate greed and malfeasance.
These scams are almost similar, no easy way to success, the Lehman case itself is a good example, a highly rated company, never would have been seen to be broke in a blink. Thanks for consolidating some of the major frauds the world has seen, all at one place, good effort!
Scandals are no more a surprise in the corporate world...even the reason for the current recession also could be the mistrust of people in High profile companies and their failure, Even Governments are making wrong decisions which facilitate few top companies who don't have longtime credibility in the market. As economic specialists, you youngsters have to come up with a new business model wherein scammers/fraudsters will not have time to loot common men.
please find a below a link for notorious scam by one of TOP 100 FTSE ( The Financial Times Stock Exchange 100 Index )company Serco UK
https://www.independent.co.uk/voices/serco-fraud-electronic-tagging-fine-a8986171.html
after the scam they came down so low in FTSE
Management-Auditor nexus is clearly visible in most of the cases which is very dangerous