Financial Scandal

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August 31, 2024 4 min read Definitions

WorldCom Scandal: A Historic Accounting Fraud

Finance History Economics Accounting Fraud Corporate Governance Financial Scandal Bankruptcy Telecommunications

An in-depth exploration of the WorldCom scandal, an accounting fraud that led to the downfall of the second-largest long-distance phone company in the USA in 2002. It examines the methods used, the key events, and its impact on corporate governance and accounting practices.

August 24, 2024 3 min read Definitions

ZZZZ Best: The Carpet Cleaning Company That Masked a Ponzi Scheme

History Economics Finance Ponzi Scheme Financial Scandal Corporate Fraud Accounting Crime

An in-depth exploration of ZZZZ Best, the carpet cleaning company that served as a front for one of the most notorious Ponzi schemes in history. Learn how the creator was caught and the impacts of this financial scandal.