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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.
The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds [1] [2] [3] in Eastern India.
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 ...
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. [ 188 ]
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 ...
[98] Soon after the report's release, Adani Group companies experienced an acute decline in their share prices. [99] [100] [101] In a follow-up piece, The Guardian indicated that Hindenburg called on the Adani Group to sue if they believed the report was inaccurate. [102] [103] By the end of February 2023, the group lost $150 billion in value ...
Only high-level federal officials are included in this list. For the executive branch, this means the President, Vice President, and Cabinet members (i.e. officials compensated at Level I of the Executive Schedule). [9]