![]() More than 20 years later after 95,000 box files, and 415 million pounds and accountants in lawyer fees, the files were eventually closed in 2012. A lawsuit against them was settled for $175 million in 1998. ![]() Investigations showed that the company was involved in money laundering, a variety of financial crimes, and in the process had illegally gained controlling interest in a major American bank. Bank of Credit and Commerce International: 1991īCCI had more than 400 branches across 78 countries and assets worth more than $20 billion USD. You’ll find that some companies went defunct as a result, though there are a few that have weathered the storm to remain operational today. From inflated valuations to false documents (including financial statements), companies aren’t always as honest as we’d like them to be.įollowing are some of the most famous accounting scandals out there. Famous Accounting Scandals In Corporate FinanceĬorporate finance may bore some, but there has been no shortage of corporate accounting scandals over the last 30 years.
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