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In early 2000, after increase in size of the business, it was determined that the insurance company's solvency was marginal, and a small asset price change could see the insurance company become insolvent. It did. Director Rodney Adler, CEO Ray Williams and others were sentenced to prison for fraudulent activity. Pacific Gas & Electric Company
For auditing a large-sized company such as Enron, the auditors were criticized for having brief meetings a few times a year that covered large amounts of material. By January 17, 2002, Enron decided to discontinue its business with Arthur Andersen, claiming they had failed in accounting advice and related documents.
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
While companies attempt to put on a friendly face to entice customers, things are often different behind the scenes as evidenced by 11 companies that caught lying to the public or deceived customers.
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A former TD Bank employee based in Florida was arrested and charged with facilitating money laundering to Colombia, New Jersey's attorney general said on Wednesday, in the first such arrest since ...
Ethics violations, safety issues, security issues, a lack of sustainability, poor quality, and lack of or unethical innovation can all cause reputational damage if they become known. [ 2 ] Reputational damage can result from an adverse or potentially criminal event, regardless of whether the company is directly responsible for said event (as ...
One form of military corruption in the United States Armed Forces is a military soldier being promoted in rank or being given better treatment than their colleagues by their officers due to their race, sexual orientation, ethnicity, gender, religious beliefs, social class or personal relationships with higher-ranking officers in spite of their ...