Wondering about some of the biggest corporate frauds in the US? It’s a fact that corporations are, from time to time, involved in diverse scandals and gossip, no different than the people who run them. These scandals are often centered on corporate corruption, schemes, and frauds, along with other felonies such as tax evasion, bribery of public officials or misapplication of funds in receiverships and bankruptcies.
The last two decades have been marked by diverse corporate frauds and scandals concerning some of the biggest corporate entities in America. Some of these frauds lead to economic recessions and social protests, such as the Occupy Wall Street movement. Nevertheless, it is important to consider the fact that recessions which follow some of these frauds are not always the effect of the companies’ crises.
The intensification of diverse economic processes involving governmental measures, accommodative monetary policy, interest rates, or balance of payments instability might lead to different economical dynamics, which in turn provide the opportunity for some companies and corporations to augment their income through doubtful or outright corrupt methods. And their fraud and collapse might just end up precipitating a global crisis and recession.
Well, these business corporations’ scandals have a significant impact on the state of the economy. And indeed these scandals always catch the attention of the media and the public eye. Some of these stories have been taken to the first page of all newspapers, and ended up making history. There are some pretty well known scandals over the past few decades. We’ve made a list featuring The 10 Biggest Corporate Scandals In Modern History, including the Lance Armstrong and SRAM Corporation scandal, and the Mining Scandal of Canadian mining company, Bre-X.
This time we’ve gathered some of the biggest corporate frauds in the US, from the last decade and a half. It is hard to make a countdown of these frauds, as most of them influenced the economy greatly and eroded public trust in the financial sector. Here’s a list of the ten biggest corporate frauds in the US, since 1998. Check it out!