The Biggest Corporate Scandals: Part 1

The experts of SEO Agency Leeds believe that there are so many things which have been originated because of corporate scandals. The various strategies, rules, regulations, hacks etc. numerous business terms have originated from them.

Hence, we decided to write a series of articles on the biggest scandals of the corporates to have a better understanding in this regard.

Let’s explore them together!

1. The Bernie Mad off Ponzi Scheme

This created the list, not just for the sheer quantity of cash concerned (at least $65 billion in client’s accounts) however as a result of the folks he conned are a number of the neatest folks within the world. Folks entrusted him with their charitable funds however they were instead used for his luxurious mode and private gain.

2. Health South

Organized and directed by the company’s CEO, Richard Scrushy, this monetary hoax concerned bobbing up with fictitious transactions and accounts to spice up the company’s earnings. The fraud embezzled $1.4 billion, that was rumored because the company’s earnings from 1996 to 2003. He nearly got away with it once he was innocent by a “friendly” Alabama jury, however, the prosecutors unbroke at it and he was guilty on Gregorian calendar month 2006 of graft charges created on Alabama’s governor to receive a seat on the medical regulative board.

3. The Stanford Financial Fallout

While this fraud might not be as huge because the Madoff’s Ponzi theme in greenback terms, as Allen Stanford solely gained $8 billion, this was a case of trust misplaced. Stanford coaxed his shoppers to take a position in safe Certificate of Deposits, however, cash was instead utilized in hedge funds that would (and did) lose money.

4. Tyco Ltd.

Tyco International may be a heterogeneous producing conglomerate that deals with electronic parts, healthcare, fireplace safety, security, and fluid management with headquarters in New Jersey, USA. In 2005, its CEO Dennis Kozlowski and business executive Mark H. Swartz were found guilty of stealing $600 million from the corporate. These 2 symbolized the excesses of govt. compensation at shareholder’s expense, wherever Kozlowski is going to be remembered for the $2 million birthday bash he gave his better half on a Mediterranean Island at the company’s expense.

5. Lance Armstrong and the Live strong Foundation

Lance Armstrong isn't solely a Tour Delaware France champion and also the man behind the Live strong Foundation, however, he conjointly owns many businesses and investments. He owns the eating place “Juan Pelota Café”, a motorbike look named “Mellow Johnny,” and has many million bucks investments within the American bicycle element manufacturer SRAM Corporation. However, as a result of his doping confessions, he may not solely lose his title and his sponsorships however conjointly got to sell his shares back to SRAM.

SEO agency London says that these worldwide famous scams are actually the reason behind the development of many things and opportunities in the digital market. However, the effects of these scams were deadly for the concerned individuals.

In the next article, we'll look at some more scams. So stay tuned!

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