10 Biggest Recent Accounting Scandals in America

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10. Qwest Communication

2001 – $44 million

Qwest Communication allegedly boosted its stock price through manipulation. The telecommunications company inflated revenue by $2.2 billion and earnings by $358 million during 1999-2001. The company’s top officials made millions of dollars through this practice. The SEC convicted several executives of insider trading activities and also sentenced Qwest’s CEO Joseph Nacchio to six years of imprisonment (which frankly is a joke, but these clowns somehow always get off light).

10 Biggest Recent Accounting Scandals in America

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