#8 Waste Management, Inc

Waste management, Inc was founded back in 1894 based Houston, Texas. It is a foremost U.S. company, offering waste management and environmental services with 50,000 employees and a network of 413 collection operations. What was the scandal here? The company’s incomes were inflated by $1.7 billion by understating the depreciation expense of the company property and equipment in 2002.

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#9 Tyco International

Tyco International is a multinational manufacturing company founded in 1960. The company is headquartered in Princeton, New Jersey. The product lines of the company include safety products, fire protection, electrical products, to name a few. In 2002, company’s CEO Dennis Kozlowski and former CFO Mark H. Swartz were accused for being involved in the theft of $600 million from the company.

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#10 Kanebo

Kanebo was a cosmetics and textiles group giant in Japan, originally established in 1887. It has a workforce of 13,580 people. In 2003, a major accounting fraud of Kanebo was revealed which was measured as the largest fraud in Japan. In books of accounts the profit was inflated by $2 billion over a period of five-years.