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Scandals

“The Fall of Enron.” NPR, NPR, 2017

Enron:

  • Created fake partnerships to hide debts and losses         -shredded documents         -pocketing company           money                                    -improper reporting              -violation of the code of ethics                                     -deregulation of their executive board

Hancock, David. “World-Class Scandal At WorldCom.” CBS News, CBS Interactive, 26 June 2002,

WorldCom:

  • Improper accounting reporting    (CFO charged)      -inflating Cash Flow              - did not comply with GAAP    -violated their Code of Ethics                                     -deregulation of executive board

Tyco:

  • CFO  and CEO were falsifying records               - stock fraud                       -improper reporting          -improper loans              -violation of Code of       Ethics                                -board of directors             -deregulation

Sorkin, Andrew Ross. “2 Top Tyco Executives Charged."  The New York Times, 12 Sept. 2002.

Yang, Stephanie. "Bernie Madoff - How His Scheme Worked.” Business Insider, 1 July 2014.

Bernie Madoff:

  • "Ponzi Scheme"-luring investors with unusually high returns                 -money laundering                         -perjury                                            -fraud                                              -theft                                                -violation of Code of Ethics             -deregulation

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