WorldCom bankruptcy March 28, 2011
The publicity surrounding the uncovering of the WorldCom fraud resulted in greater auditor oversight over American corporations and greater government oversight over auditors.
Tyco International scandal March 24, 2011
With revenues in 2001 of $38 billion and 240,000 employees worldwide, Tyco was one of America’s largest conglomerates, but a 2002 corporate fraud case nearly destroyed the firm.
Teapot Dome scandal March 22, 2011
The Teapot Dome scandal was a defining moment in American history that helped fuel the public’s general distrust of government and fears of corporate-governmental collusion.
Racketeer Influenced and Corrupt Organizations Act March 8, 2011
The RICO Act was designed to put an end to the enormous illegal profits enjoyed by the Mafia.
Price fixing: business history March 6, 2011
Price fixing eliminates competition and forces buyers to pay higher prices than the market would normally bear.
Organized crime March 4, 2011
The diverse enterprises in which various organized crime elements have engaged since the late nineteenth century have created a black market for goods and services in the United States...
Ponzi schemes March 4, 2011
Since Charles Ponzi perpetrated his scheme on a large scale in Boston in 1920, many others have defrauded investors through what have become known as Ponzi schemes.
Maritime Piracy March 4, 2011
Ships and goods of uncountable value have been lost to piracy from the colonial days to modern times.
Insider trading: business history February 15, 2011
Prohibitions against insider trading seek to reassure investors that corporate managers and other with an obligation to the public. . .
Identity theft February 13, 2011
The criminal act of identity theft costs Americans and American businesses millions of dollars per year in losses, legal fees, and investigations and fosters distrust between consumers and businesses.
Jimmy Hoffa February 11, 2011
Hoffa revived the American labor movement but also became symbolic of corrupt union leadership. Head of the Teamsters union, he worked closely with members of organized crime.
Enron bankruptcy January 25, 2011
The collapse of Enron, an energy conglomerate with reported revenues of $100 billion, is one of the largest bankruptcy and accounting fraud cases in U.S. history.
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