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--- biggest_scams [2021/09/13 04:36]
eziothekilla34
+++ biggest_scams [2021/09/13 04:38]
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 Dennis Kozlowski (Tyco CEO) and a number of key employees in 2002 were accused with fabricating reports using Enron-esque accountancy, lying to authorities and scamming hundreds of millions of dollars at its investors. They utilized the savings to support the prolific life of a $6,000 shower curtain and umbrella stand, including cartooning. Kozlowski was imprisoned for 61⁄2 years and freed in 2015. [([[https://www.nytimes.com/2002/09/13/business/2-top-tyco-executives-charged-with-600-million-fraud-scheme.html|NYTimes]])]
+===== Worldcom =====
+In 2002, the WorldCom telecom company filed bankruptcy on account of its participation in the Enron crisis only one month after its auditor, Arthur Andersen LLP, was convicted. With simple but successful deception, the firm collapses and loss for investors after Tyco and Enron even faded. CEO Bernard Ebbers was condemned to 25 years' imprisonment by WorldCom executives who exaggerated revenue and cash flow with a list of costs for investment. [([[https://www.investopedia.com/terms/w/worldcom.asp|Investopedia]])]
+===== HealthSouth =====
+HealthSouth was formerly one of the world's leading healthcare corporations but was a sticky bank for its leaders between 1996 and 2002. Top managers have carried out $2.8 billion in fraud based on the same accounting techniques that have been permitted to hide for so long by Enron, WorldCom and Tyco. For their part in covering up debt, exaggerating revenue, reporting fraudulent reports and, like their contemporaries, making unrecovered gains to fund abominably prickly lives, Richard Scrushy and other key officials were condemned to jail. [([[https://www.cfo.com/fraud/2017/03/two-cfos-tell-tale-fraud-healthsouth/|CFO]])]

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