5 Biggest Corporate Frauds in US History

In this article, we take a look at the 5 biggest corporate frauds in US history. For a detailed and comprehensive analysis, go to 15 Biggest Corporate Frauds in US History.

5. Cendant

Estimated Losses: $19 Billion

Cendant Corporation became embroiled in a significant fraudulent financial reporting scheme, resulting in substantial losses for investors. This deceit was unveiled in April 1998 by the senior management of Cendant, which primarily consisted of former HFS executives. Over the course of 1985 until the discovery of the accounting fraud, the company submitted inaccurate and deceptive periodic reports to the SEC. These reports misrepresented the company’s financial performance by inflating operating income and earnings while concealing the fact that the financial data had been misrepresented.