List of corporate scandals

List of Corporate Scandals refers to a compilation of notable events in which corporations were involved in unethical or illegal activities, leading to significant public backlash, legal repercussions, and often, substantial financial losses. These scandals often involve corporate fraud, insider trading, embezzlement, and other forms of white-collar crime.

Overview

Corporate scandals can have far-reaching impacts, affecting not only the companies involved but also their employees, shareholders, and the wider economy. They often lead to a loss of public trust in corporations and can result in changes to corporate governance and business ethics practices.

Notable Corporate Scandals

Enron Scandal

The Enron scandal, revealed in October 2001, led to the bankruptcy of the Enron Corporation, an American energy company. It involved institutionalized, systematic, and creatively planned accounting fraud.

WorldCom Scandal

WorldCom, a telecommunications company, committed a $3.8 billion fraud by inflating its assets. The scandal, revealed in 2002, led to the company's bankruptcy.

Volkswagen Emissions Scandal

In 2015, Volkswagen admitted to installing software in its cars to cheat on emissions tests. The scandal, also known as "Dieselgate", affected 11 million cars worldwide and led to a significant drop in the company's stock price.

Theranos Scandal

Theranos, a now-defunct health technology company, was involved in a scandal when it was revealed that the company had misled investors and patients about the capabilities of its blood-testing technology.

See Also

• Corporate crime
• Business ethics
• Corporate governance
• White-collar crime

References

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