#2 American International Group (AIG)

AIG is one of the leading insurance companies in the US, was incorporated in 1919. The company is based in New York City with 116,000 employees. On 2004 it got involved into the corporate accounting scandal which exposed the overstatement of the company’s net worth by $2.7 billion. On 2006, in settlement with the New York State Attorney General, AIG agreed to pay the hefty fine of $1.6 billion.

#3 Health South Corporation

Health South Corporation, founded by Richard M. Scrushy in 1984, was a leading healthcare service provider based in Alabama, USA. The company operates in100 Inpatient Rehabilitation Hospitals and employs 22,000 people. In 2003, the company’s scandal came into exposure revealing the overstatement of the company’s income by and $1.4 billion to meet the investors’ expectations. It was also found that the company got engaged in fraudulent accounting practices from back in 1996, and in certain years the revenues was overstated by as much as 4700 percent.