Jun 22 , 2023

8 US Companies infamous for defrauding its clients

By True Scoop

Enron Corporation: Infamous for one of the largest corporate fraud cases in history, involving accounting manipulations and misleading financial reporting.

WorldCom: Involved in a massive accounting scandal that revealed inflated assets and fraudulent financial reporting, leading to its bankruptcy.

Theranos: Accused of fraudulent claims about its blood-testing technology, resulting in the company's downfall and legal consequences for its founder.

Tyco International: Involved in a scandal where its top executives were convicted of misappropriation of funds and securities fraud.

Bernie Madoff Investment Securities: Bernie Madoff orchestrated a massive Ponzi scheme, defrauding investors of billions of dollars.

HealthSouth Corporation: Accused of accounting fraud involving the overstatement of earnings, leading to the conviction of its CEO and CFO

Lehman Brothers: Involved in the subprime mortgage crisis and accused of accounting fraud that contributed to its collapse and the global financial crisis.

Volkswagen: Faced allegations of fraudulent emissions testing, as the company manipulated software to evade emission standards.