11 Biggest Financial Scandals in History

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9. Manhattan Capital Management

Manhattan Capital Management was founded in 1996 by Michael Berger. It eventually lost hundreds of millions of dollars, but Michael declined to report any of these losses. Instead, he forged fake data and faked documents to fool his investors into pouring more money. Losses amounted to almost $400 million. Michael was caught in 2007 after fleeing from his sentence for 5 years.

Biggest Financial Scandals in History

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