Top 10 Accounting Scandals of All Time

10. Waste Management Inc. (1998)

Waste Management Inc., founded in 1894, has its headquarters in Houston, Texas. It is a publicly traded waste management and environmental services company. In 1998, the company reported $1.7 billion of fake earnings by falsely increasing the ‘depreciation time length’ for their property, plant and equipment. A shareholder class-action lawsuit was launched for $457 million, and the company auditor Arthur Andersen was fined $7 million.

Waste Management, Inc.