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The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion ...
Date apprehended. December 11, 2008. Bernard Lawrence Madoff ( / ˈmeɪdɔːf / MAY-dawf; [2] April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. [3] [4] He was at one time chairman of the Nasdaq stock ...
Rita A. Crundwell (née Humphrey; born January 10, 1953) is the former Comptroller and Treasurer of Dixon, Illinois, from 1983 to 2012. She is the admitted operator of what is believed to be the largest municipal fraud in U.S. history. She was fired in April 2012 after the discovery that she had embezzled $53.7 million from the city of Dixon ...
Enron scandal. The Enron scandal was an accounting scandal involving Enron Corporation, an American energy company based in Houston, Texas. When news of widespread fraud within the company became public in October 2001, the company declared bankruptcy and its accounting firm, Arthur Andersen – then one of the five largest audit and ...
Elizabeth Anne Holmes (born February 3, 1984) is an American biotechnology entrepreneur who was convicted of fraud in connection to her blood-testing company, Theranos. [2] The company's valuation soared after it claimed to have revolutionized blood testing by developing methods that needed only very small volumes of blood, such as from a ...
WorldCom scandal. The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time. From 1999 to 2002, senior executives at WorldCom led by founder and CEO Bernard Ebbers orchestrated a scheme to inflate earnings in order to maintain ...
The Olympus scandal was a case of accounting fraud exposed in Japan in 2011 at optical equipment manufacturer Olympus. On 14 October, British-born Michael Christopher Woodford was suddenly ousted as chief executive. He had been company president for six months, and two weeks prior had been promoted to chief executive officer, when he exposed ...
Barry Jay Minkow (born March 22, 1966) [1] is a former American businessman, pastor, and convicted felon. While still in high school, Minkow founded ZZZZ Best ( / ˈziːbɛst / [2] ), which appeared to be an immensely successful carpet-cleaning and restoration company. However, it was actually a front to attract investment for a massive Ponzi ...