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
§ Bayer, links to Josef Mengele's Auschwitz human experiments, HIV-tainted blood products, anti-Semitism, racism
§ 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.
§ Phar-Mor[3] 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
§ ValuJet Airlines, loading live oxygen generators into cargo hold of passenger jet causing fatal crash
§ 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]
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