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).
List of corporate scandals
§ 2008 Siemens Scandal, involving cases of bribery on behalf of Siemens towards the Greek Government
§ American Airlines, deferred maintenance of aircraft
§ BAE Systems bribery scandal related to the Al Yamamah contracts with Saudi Arabia.
§ Barings Bank, derivatives trading scandal
§ Bayer, links to Josef Mengele's Auschwitz human experiments, HIV-tainted blood products, anti-Semitism, racism
§ Bre-X gold mining and stock scandal
§ Bristol-Myers Squibb accounting scandal
§ 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
§ Compass Group, bribed the United Nations in order to win business.
§ Corrib gas controversy Kilcommon, Erris, Co. Mayo, Ireland.
§ Deutsche Bank, spying scandal
§ Enron accounting fraud, involving Arthur Andersen
§ 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
§ Hafskip's collapse
§ Halliburton overcharging government contracts
§ HealthSouth reporting exaggerated earnings
§ 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
§ Long-Term Capital Management - LTCM
§ Merck Medicaid fraud investigation
§ MG Rover Group accounts and pensions scandal
§ Morrison-Knudsen scandal. Led to William Agee's ouster
§ One.Tel collapse
§ Options backdating involving over 100 companies
§ 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.
§ 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.
§ 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.
§ 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, 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
§ Xerox alleged accounting irregularities involving auditor KPMG, causing restatement of financial results for the years 1997 through 2000 and fines for both companies.
§ David Wittig "looting" scandals
§ Northern Rock bank - subprime mortgage crisis and nationalisation, United Kingdom
§ Satyam Computers, India
§ S-Chips Scandals, Singapore
§ Sony including rootkits on audio cds; then providing a security hole as solution.
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