What was done to mitigate the scandal? Did a government agency step in? Did they receive a bail out? Finally,

Large companies have played a major role in society that goes beyond
economic interest. They contribute to social development the
sustainability of the world. When September 11th shocked the entire
world and bruised our ever-fragile economy, the country was hit with
bankruptcy and corporate scandals, with some of the biggest names! After
the great financial scandals of companies such as ENRON, WorldCom or
AHOLD, interest groups required accurate and transparent financial
information. The development of more demanding financial reporting
standards seems, however, not to have been up to scratch, since fraud
continues to be detected all over the world. Cyber fraud, accounting
fraud, insurance fraud, the list goes on.
Pick a company (not named
above) that has been part of a financial scandal. Include as much detail
as you can about the history of that entity.
Your paper should answer the following:
What was the scandal?
Who was involved in the scandal?
What was the motivation behind the scandal?
How did they get caught?
What was done to mitigate the scandal? Did a government agency step in? Did they receive a bail out?
Finally,
it is clear that the social cost of any fraud should not be minimized,
and governments should develop specific policies that combine
responsible corporate governance in companies with the sustainability of
their environment. What policies did they implement after this scandal,
if any and if they did not implement any policies or procedures, should
they have done so?

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