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Dennis Kozlowski. Leo Dennis Kozlowski [1] (born November 16, 1946) is a former CEO of Tyco International, convicted in 2005 of crimes related to his receipt of $81 million in unauthorized bonuses, the purchase of art for $14.725 million and the payment by Tyco of a $20 million investment banking fee to Frank Walsh, a former Tyco director.
www.tyco.com [1] Tyco International plc was a security systems company incorporated in the Republic of Ireland, [2] with operational headquarters in Princeton, New Jersey, United States ( Tyco International (US) Inc. ). Tyco International was composed of two major business segments: security solutions and fire protection.
The Bank of England refused to advance money, and it collapsed. The directors were sued, but exonerated from fraud. Friedrich Krupp. Germany. 1873. Steel, metals. Krupp's business over-expanded, and had to take a 30m Mark loan from the Preußische Bank, the Bank of Prussia . Danatbank. Germany.
Bernard Madoff (2008) Criminal charge: Securities fraud, wire fraud, mail fraud, perjury, and money laundering. Sentence: 150 years in prison. Bernie Madoff was an American financier and is known ...
The PCAOB was created after the fall of companies including Enron, Tyco and WorldCom, when the flimsy accounting methods that those companies relied on led to employees losing their life savings ...
Accounting scandals are business scandals which arise from intentional manipulation of financial statements with the disclosure of financial misdeeds by trusted executives of corporations or governments. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating ...
Timothy A. Clary/AFP/Getty ImagesA Bernie Madoff Halloween mask. Putting together any type of Top 10 list is a dicey business. Once you get past the usual subjects, the criteria for the rest of ...
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 ...