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The company's finance directors concealed large debts. MG Rover Group: United Kingdom: 15 April 2005: Automobiles: After diminishing demand, and getting a £6.5m loan from the UK government in April 2005, the company went into administration. After the loss of 30,000 jobs, Nanjing Automobile Group bought the company's assets. Bayou Hedge Fund Group
Corruption is a form of dishonesty or a criminal offense that is undertaken by a person or an organization that is entrusted in a position of authority to acquire illicit benefits or abuse power for one's gain.
Opportunities: Although the financial statements of all companies are potentially subject to manipulation, the risk is greater for companies in industries where significant judgments and accounting estimates are involved. Turnover in accounting personnel or other deficiencies in accounting and information processes can create an opportunity for ...
Big banks and bank stocks, like Citigroup, don't always conjure up the most warn-and-fuzzy feelings for investors, but does that mean people shouldn't own them? In this segment of The Motley Fool ...
Using company time or resources for personal use is also, commonly viewed as unethical because it boils down to stealing from the company. The misuse of resources costs companies billions of dollars each year, averaging about 4.25 hours per week of stolen time alone, and employees' abuse of Internet services is another main concern. [ 187 ]
The Consumer Financial Protection Bureau left very little unsaid when it announced, a few days before Christmas, $3.7 billion in assessments against Wells Fargo Bank for more than a decade of ...
Pixabay/Public Domain[/caption] 8. Olay. Olay indulged in misrepresenting their product, when they retouched a model’s photo for their eye cream, misleading customers to believe that the cream ...
In Police Ethics, it is argued that some of the best officers are often the most susceptible to noble cause corruption. [9] According to professional policing literature, noble cause corruption includes "planting or fabricating evidence, lying or the fabrication and manipulation of facts on reports or through testimony in court, and generally abusing police authority to make a charge stick."