Give a company that was involoved in Accounting fraud or malpractice.?

Question

Give a company that was involoved in Accounting fraud or malpractice

Answer 1

Take Enron - it all came crashing down in October 2001, when the company admitted that it had misstated its income and that its equity value was a couple of billion dollars less than its balance sheet said.

The company, it was revealed, had made about a dozen "partnerships" with companies it had created, and it used those partnerships to hide huge debts and heavy losses on its trading businesses. At the same time, Arthur Andersen, the company that audited Enron's books, at best neglected to recognize the company's problems. At worst, investigators now say, the auditor was complicit in perpetrating one of the biggest frauds in corporate history.

On Dec. 2, 2001, Enron declared bankruptcy. Thousands of people were thrown out of work, and thousands of investors -- including most of the company's employees -- lost billions of dollars as Enron's shares shrank to penny-stock levels.

Throughout January, revelations poured forth from Enron: tales of shredded documents, stories of Enron execs seeking help from top administration officials, allegations that company officials willfully ignored internal warnings about the accounting irregularities even as they pocketed millions of dollars in stock-market gains. It quickly became clear that the sudden collapse of the country's seventh-largest company was going to have implications not only for business, but for politics and policy as well: Enron and its officers were among the biggest donors to U.S. political campaigns over the past decade.

Answer 2

I'll give you more than one:

Waste Management, Inc.
Rite-Aid
Enron
ZZZZ Best
WorldCom
Sunbeam Corporation
The Fund of Funds
Qwest Communications International
The Baptist Foundation of Arizona