List of corporate scandals
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xtracts] > "exlimit" was too large for a whole article extracts request, lowered to 1. ) [query] > ( [normalized] > ( [n] > ( [@attributes] > Array ( [from] > List_of_corporate_scandals [to] > List of corporate scandals ) ) ) [redirects] > ( [r] > ( [@attributes] > Array ( [from] > List of corporate scandals [to] > List of corporate collapses and scandals ) ) ) [pages] > ( [page] > ( [@attributes] > Array ( [_idx] > 562651 [pageid] > 562651 [ns] > 0 [title] > List of corporate collapses and scandals ) [e > A corporate collapse typically involves the insolvency or bankruptcy of a major business enterprise. 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 false or inappropriate accounting of some sort (see list at accounting scandals). List of major corporate collapses The following list of corporations involved major collapses, through the risk of job losses or size of the business, and meant entering into insolvency or bankruptcy, or being nationalised or requiring a non-market loan by a government. List of scandals without insolvency Australia and New Zealand Banking Group scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Victorian Supreme Court. Australia and New Zealand Banking Group allegations of racial bigotry toward billionaire businessman Pankaj Oswal and his wife. Court was presented with emails where an ANZ staff member comments to ANZ CEO Mike Smith: "We are dealing with Indians with no moral compass and an Indian woman as every bit as devious as PO (Mr Oswal)." Australia and New Zealand Banking Group toxic culture. Court case where allegations were made by ex-employees that the bank's senior management tolerated drugs and strip clubs. Australia and New Zealand Banking Group alleged manipulation of the Australian benchmark interest rates. ANZ is currently being pursued by the Australian Securities and Investments Commission, which filed an originating process in the Federal Court of Australia against ANZ in March 2016. BAE Systems bribery scandal related to the Al-Yamamah arms deal with Saudi Arabia Bayer, links to Josef Mengele's Auschwitz human experiments, HIV-tainted blood products, anti-Semitism, racism, Zyklon B production through IG Farben Bristol-Myers Squibb accounting scandal Brown & Williamson, for chemically enhancing the addictiveness of cigarettes, becoming the leading edge of the tobacco industry scandals of the 1990s, eventually resulting in the Tobacco Master Settlement Agreement Chevron-Texaco Lago Agrio oil field pollution scandal Commonwealth Bank of Australia facts uncovered that showed the insurance arm of the bank denied life insurance policy holders despite having legitimate claims, resulting in calls for a Royal Commission into the Australian insurance industry. Commonwealth Bank Of Australia provision of unsuitable financial advice to a large number of customers between 2003 and 2012 and continuious delay in providing compensation to victims. Compass Group, bribed the United Nations in order to win business Corrib gas controversy Kilcommon, Erris, Co. Mayo, Ireland Deutsche Bank, spying scandal Deutsche Bank Libor scandal, agreed to a combined US$2.5 billion in fines Duke Energy El Paso Corp. Fannie Mae, underreporting of profit Firestone Tire and Rubber Company, part of the General Motors streetcar conspiracy, labor controversies, Firestone and Ford tire controversy FlowTex, the largest corporate scandal in German history Ford Pinto, fuel tank scandal Financial Ombudsman Service (Australia) scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Victorian Supreme Court. Global Crossing Guinness share-trading fraud Hafskip's collapse Halliburton overcharging government contracts Harken Energy Scandal HealthSouth reporting exaggerated earnings Hewlett-Packard spying scandal Homestore.com IG Farben, participation in the Holocaust Kerr-McGee, the Karen Silkwood case Kinney National Company financial scandal Krupp, participation in arming Nazi Germany and in the Holocaust Lernout & Hauspie accounting fraud Lockheed bribery scandal in Germany, Japan, and Netherlands Livedoor scandal Marsh & Mclennan Merck Medicaid fraud investigation Mirant Morrison-Knudsen scandal. Led to William Agee's ouster Mutual-fund scandal (2003) Nestle Nugan Hand Bank Olympus Scandal Options backdating involving over 100 companies Panama Papers International. Leak of hundreds of thousands of confidential documents pertaining to the bank accounts and companies held by politicians, High-net-worth individuals and other people, some in off-shore tax havens. The focus was Panama law firm Mossack Fonseca. Peregrine Systems corporate executives convicted of accounting fraud Phar-Mor company lied to shareholders. CEO eventually sentenced to prison for fraud and company eventually became bankrupt Qwest Communications RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in California Reliant Energy Rite Aid accounting fraud Royal Dutch Shell overstated its oil reserves twice, it downgraded 3,900,000,000 barrels (620,000,000 m3), or about 20 percent of its total holdings. S-Chips Scandals, Singapore Satyam Computers, India 7-Eleven Australia. Allegations of bullying tactics, underpayment of wages and entitlements. Siemens Greek bribery scandal, involving cases of bribery on behalf of Siemens towards the Greek Government Société Générale, derivatives trading scandal causing multibillion-euro losses Southwest Airlines, violations of safety regulations Tyco International, executive theft and prison sentence Union Carbide, the Bhopal disaster ValuJet Airlines, loading live oxygen generators into cargo hold of passenger jet causing fatal crash Volkswagen emissions violations, fraud in diesel motors pollution measurements David Wittig "looting" scandals Xerox alleged accounting irregularities involving auditor KPMG, causing restatement of financial results for the years 1997 through 2000 and fines for both companies See also Notes Further reading The Corporation, a documentary and book examining and criticising the corporation and its history. Conspiracy of Fools, Enron documentary. Enron: The Smartest Guys in the Room, Oscar-nominated Enron documentary. External links 33 biggest corporate implosions ) ) ) )
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List of corporate collapses and scandals