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biggest_scams [2021/09/13 04:30] eziothekilla34 |
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- | In 2000, a man called Emanuel Pinez received a jail term of five years and was forced to repay $150 million for the swindle by his firm, Centennial Technologies Inc. It was the lead performer on the New York Stock Exchange just four years earlier in 1996. Among other scams, earnings were exaggerated from a PC memory cardmaker, who once even sent fruit baskets at Christmas and gave the clients the gifts. Approximately 20,000 investors have lost 50 million dollars. | + | In 2000, a man called Emanuel Pinez received a jail term of five years and was forced to repay $150 million for the swindle by his firm, Centennial Technologies Inc. It was the lead performer on the New York Stock Exchange just four years earlier in 1996. Among other scams, earnings were exaggerated from a PC memory cardmaker, who once even sent fruit baskets at Christmas and gave the clients the gifts. Approximately 20,000 investors have lost 50 million dollars. |
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+ | ===== Reed Slatkin ===== | ||
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+ | In 2002, Reed Slatkin pled guilty to fifteen charges for a 15-year Ponzi regime that snapped 800 rich investors who had deposited about $600 million. EarthLink' | ||
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+ | ===== Enron ===== | ||
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+ | Like Keating in the 80's, the Enron brand has been used to represent Wall Street' | ||
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+ | ===== Tyco ===== | ||
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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, | ||
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+ | ===== Worldcom ===== | ||
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+ | 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:// | ||
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+ | ===== HealthSouth ===== | ||
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+ | HealthSouth was formerly one of the world' | ||
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+ | ===== Fannie Mae ===== | ||
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+ | At the height of the 2006 housing bubble, the mortgage giant Fannie Mae was forced to pay $400 millions for its leaders' | ||
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+ | ===== War Dogs ===== | ||
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+ | At the time of their massively $300 million government bidding for acquiring more than 100 million rounds of weapons to supply the US-backed rebels of Afghanistan, | ||
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+ | ===== Bernie Madoff ===== | ||
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+ | In 2008 Bernie Madoff fell by grace following the plan of Ponzi that ended all Ponzi schemes, little less than 90 years after Charles Ponzi became renowned for his name. Madoff, on the other hand, managed for decades to maintain his financial juggling action beginning in the 1970s. Formerly regarded to be one of the largest investors in the world, Madoff pled guilty in 2009 to designing the world' | ||
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+ | ===== Fyre Festival ===== | ||
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+ | In recent news, the Fyre Event was a disastrous documentary by Netflix that reveally shows the interior workings of the disaster in 2017, which was charged for industry elites and VIPs as a costly and ultra-luxurious music festival. Instead, visitors were stuck in the Bahama in filthy and raw lodges with severe supply shortages and, most memorably, cold cheese sandwiches, because of misleading advertising, |