The 10 Biggest Corporate Frauds in the US

Page 2 of 11

No. 10 Waste Management (1998)

This company, based in Houston, reported $ 1.7 billion in fake earnings in 1998. The company allegedly falsely increased the depreciation time length for their property, plant and equipment on the balance sheets. After a new CEO and management team went through the books, the fraud was exposed. The SEC fined Arthur Andersen $7 million, and settled a shareholder class-action suit for $457 million.

Page 2 of 11