Category Archives: Articles

In 2002, the world was shocked by the revelation of what was then the largest accounting fraud in U.S. history. Telecom giant WorldCom had inflated its earnings by $3.8 billion, causing losses for investors and leading to the company’s bankruptcy. … Continue reading →

What was Arthur Andersen? Arthur Andersen was once one of the most respected accounting firms in the world, providing auditing and consulting services to a wide range of clients. However, the firm’s reputation was irreparably damaged by its role in … Continue reading →

What was Enron? Enron was once considered one of the most innovative and successful companies in the United States. Founded in 1985 as a natural gas pipeline company, it quickly expanded into a variety of other businesses, including energy trading … Continue reading →

What is a Ponzi scheme? A Ponzi scheme is a type of investment scam in which a fraudulent promoter promises high returns on investments and pays returns to earlier investors using the funds from newer investors. The scheme relies on … Continue reading →

Who was Bernard Madoff? Bernard Madoff is a former American stockbroker, investment advisor, and financier who was arrested in 2008 for orchestrating one of the largest financial frauds in history. Madoff’s fraudulent activities involved a Ponzi scheme in which he … Continue reading →

What is a financial scammer A financial scammer is a person or entity who engages in fraudulent activities with the goal of illegally obtaining money or financial assets from individuals or organizations. This can take many forms, including Ponzi schemes, … Continue reading →