Corporate Frauds Where Nobody Went To Jail
30 guides found.
Corporate Frauds Where Nobody Went To Jail: 10 Johnson Johnson internal documents showed they knew baby powder contained asbestos for decades
THE ONE FACT THEY WON’T FORGET In 1971, Johnson & Johnson’s own scientists tested the company’s baby powder and found it contained asbestos—a known carcinogen. The results were…
Corporate Frauds Where Nobody Went To Jail: 09 Volkswagen 11 million cars fitted with emissions cheating software knew for years CEO resigned no US
THE ONE FACT THEY WON’T FORGET In May 2014, Volkswagen engineers ran a secret test in California that confirmed their diesel cars emitted up to 35 times the legal limit of nitrogen…
Corporate Frauds Where Nobody Went To Jail: 08 Purdue Pharma internal emails showed they knew OxyContin was addictive in 1995 sold it aggressively
THE ONE FACT THEY WON’T FORGET In 1995, three years before OxyContin’s launch, Purdue Pharma’s medical director, Dr. Robert Kaiko, wrote in an internal email that the drug’s 12-hou…
Corporate Frauds Where Nobody Went To Jail: 07 BP Deepwater Horizon internal documents showed known safety failures 65 billion in costs no executiv
THE ONE FACT THEY WON’T FORGET On April 15, 2010—five days before the Deepwater Horizon rig exploded—BP engineers in Houston sent an internal email warning that the well’s cement j…
Corporate Frauds Where Nobody Went To Jail: 06 Goldman Sachs sold mortgage products it was simultaneously betting against paid 550 million admitted
THE ONE FACT THEY WON’T FORGET In April 2010, Goldman Sachs sold a mortgage-backed security called Abacus 2007-AC1 to investors while simultaneously betting against it—and did not …
Corporate Frauds Where Nobody Went To Jail: 05 Lehman Brothers 600 billion collapse accounting trick called Repo 105 hid 50 billion in debt
THE ONE FACT THEY WON’T FORGET In the final weeks before its collapse, Lehman Brothers used an accounting trick called Repo 105 to temporarily remove $50 billion in debt from its b…
Corporate Frauds Where Nobody Went To Jail: 04 Wells Fargo created 35 million fake accounts CEO retired with 130 million
THE ONE FACT THEY WON’T FORGET Between 2002 and 2016, Wells Fargo employees opened 3.5 million deposit and credit card accounts without customer consent—1.5 million of them for rea…
Corporate Frauds Where Nobody Went To Jail: 03 HSBC laundered 881 million for Mexican drug cartels paid a fine no prosecution
THE ONE FACT THEY WON’T FORGET Between 2006 and 2010, HSBC’s Mexican subsidiary moved at least $881 million in drug cartel proceeds through its U.S. branches—money the bank’s own c…
Corporate Frauds Where Nobody Went To Jail: 02 The 2008 Mortgage Crisis 26 million jobs lost zero senior bankers prosecuted
THE 2008 MORTGAGE CRISIS: 26 MILLION JOBS LOST, ZERO SENIOR BANKERS PROSECUTED THE ONE FACT THEY WON’T FORGET In 2013, the U.S. Department of Justice reached a $13 billion settleme…
Corporate Frauds Where Nobody Went To Jail: 01 Enron 74 billion in shareholder value destroyed Arthur Andersen shredded the documents
THE ONE FACT THEY WON’T FORGET On October 16, 2001, Enron reported a $618 million third-quarter loss. Six weeks earlier, its auditor, Arthur Andersen, had signed off on financial s…