Corporate Frauds Where Nobody Went To Jail
30 guides found.
Corporate Frauds Where Nobody Went To Jail: 30 Citigroup sold 40 billion in toxic mortgage securities while internal emails called them garbage
THE ONE FACT THEY WON’T FORGET In 2007, Citigroup sold $40 billion in mortgage-backed securities to investors while internal emails from its own traders called the underlying loans…
Corporate Frauds Where Nobody Went To Jail: 29 McKinsey advised Purdue Pharma to turbocharge opioid sales paid 573 million settlement
THE ONE FACT THEY WON’T FORGET In 2013, McKinsey & Company advised Purdue Pharma to focus its opioid sales efforts on "high-abuse-risk" patients—those already showing signs of …
Corporate Frauds Where Nobody Went To Jail: 28 Odebrecht largest corporate bribery case in history 12 countries 788 million fine
THE ONE FACT THEY WON’T FORGET In 2016, Odebrecht S.A., Latin America’s largest construction firm, admitted in a U.S. federal court to paying $788 million in bribes across 12 count…
Corporate Frauds Where Nobody Went To Jail: 27 Standard Chartered processed 250 billion in transactions for Iran sanctions violations
THE ONE FACT THEY WON’T FORGET Between 2001 and 2007, Standard Chartered processed 9,557 transactions worth $250 billion for Iranian banks and entities, including those controlled …
Corporate Frauds Where Nobody Went To Jail: 26 Credit Suisse helped 55000 Americans hide 10 billion from IRS paid fine continued operating
THE ONE FACT THEY WON’T FORGET In 2014, Credit Suisse admitted in a U.S. federal court filing that it had helped 55,000 American clients conceal $10 billion from the Internal Reven…
Corporate Frauds Where Nobody Went To Jail: 25 Sackler Family and Purdue Pharma 10 billion taken out of company while opioid deaths mounted
THE ONE FACT THEY WON’T FORGET Between 2008 and 2019, as Purdue Pharma’s OxyContin fueled an opioid epidemic that killed hundreds of thousands in the United States, the Sackler fam…
Corporate Frauds Where Nobody Went To Jail: 24 DuPont knew since 1961 that C8 chemical used in Teflon caused cancer dumped it in water supply
THE ONE FACT THEY WON’T FORGET In 1961, DuPont’s own toxicology unit concluded that C8—a chemical used to manufacture Teflon—caused cancerous tumors in rats and liver damage in dog…
Corporate Frauds Where Nobody Went To Jail: 23 3M internal documents from 1970s show they knew PFAS chemicals caused health problems
THE ONE FACT THEY WON’T FORGET In 1978, a 3M internal memo warned that perfluorooctanoic acid (PFOA)—a chemical used in Scotchgard and other products—caused birth defects in rats a…
Corporate Frauds Where Nobody Went To Jail: 22 Lumber Liquidators sold flooring with formaldehyde levels exceeding California safety standards knew
THE ONE FACT THEY WON’T FORGET In 2014, Lumber Liquidators sold laminate flooring to U.S. consumers that emitted formaldehyde at levels up to 20 times California’s safety standard—…
Corporate Frauds Where Nobody Went To Jail: 21 Nikola founder Trevor Milton convicted of fraud trucks that couldnt move were filmed rolling downhil
THE ONE FACT THEY WON'T FORGET In October 2022, a federal jury in Manhattan convicted Trevor Milton, founder of Nikola Corporation, of three counts of fraud for lying about the com…
Corporate Frauds Where Nobody Went To Jail: 20 Luckin Coffee fabricated 310 million in sales NASDAQ listed executives in China beyond US reach
THE ONE FACT THEY WON’T FORGET In April 2020, Luckin Coffee—a company that had listed on the NASDAQ just 13 months earlier—admitted in a regulatory filing that its chief operating …
Corporate Frauds Where Nobody Went To Jail: 19 Wirecard 2 billion that simply did not exist audited by EY for a decade
THE ONE FACT THEY WON’T FORGET In June 2020, Wirecard AG—a company valued at €24 billion, listed on Germany’s DAX 30, and audited by EY for over a decade—admitted that €1.9 billion…
Corporate Frauds Where Nobody Went To Jail: 18 Abraaj Group 1 billion stolen from healthcare fund meant for developing world hospitals
THE ONE FACT THEY WON’T FORGET In 2018, forensic auditors discovered that $1 billion—meant for hospitals in Pakistan, Nigeria, and India—had been systematically drained from the Ab…
Corporate Frauds Where Nobody Went To Jail: 17 WeWork 47 billion valuation 19 billion actual revenue Neumann walked away with 17 billion
THE ONE FACT THEY WON’T FORGET In October 2019, WeWork’s board—including representatives from SoftBank, J.P. Morgan, and Benchmark Capital—voted to pay Adam Neumann $1.7 billion to…
Corporate Frauds Where Nobody Went To Jail: 16 FTX 8 billion in customer funds SBF convicted most co-conspirators took plea deals
THE ONE FACT THEY WON’T FORGET On November 2, 2022—nine days before FTX collapsed—its founder, Sam Bankman-Fried, sent a message to a reporter: “Fuck regulators.” The exchange, lat…
Corporate Frauds Where Nobody Went To Jail: 15 Theranos 9 billion fraud Holmes convicted but Balwani served more time
THE ONE FACT THEY WON’T FORGET Elizabeth Holmes was sentenced to 11 years and 3 months in prison for defrauding investors out of $700 million. Her former partner, Ramesh "Sunny" Ba…
Corporate Frauds Where Nobody Went To Jail: 14 Boeing 737 MAX internal messages showed engineers knew about MCAS system problems 346 people died
THE ONE FACT THEY WON'T FORGET In October 2018, five months before the second Boeing 737 MAX crash killed 157 people, a Boeing engineer sent an internal message stating: "This airp…
Corporate Frauds Where Nobody Went To Jail: 13 General Motors ignition switch defect knew in 2001 recalled in 2014 124 deaths 900 million settlemen
THE ONE FACT THEY WON’T FORGET In 2005, General Motors engineer Ray DeGiorgio approved a design change to the ignition switch in the Chevrolet Cobalt and other models—replacing a f…
Corporate Frauds Where Nobody Went To Jail: 12 Takata Airbags knew airbags were exploding and killing people in 2004 hid it until 2014 27 deaths co
THE TAKATA AIRBAGS: A DECADE OF DEATH, DECEPTION, AND DOLLARS THE ONE FACT THEY WON’T FORGET In 2004, Takata engineers in Michigan tested an airbag inflator that exploded, sending …
Corporate Frauds Where Nobody Went To Jail: 11 Pacific Gas Electric equipment failures caused California wildfires killing 84 people pleaded guilty
THE ONE FACT THEY WON’T FORGET In 2018, Pacific Gas & Electric (PG&E) equipment sparked the Camp Fire, California’s deadliest wildfire, killing 84 people. Internal company …