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Welcome to Corporate Scandals Exposed

We are the Internet's primary source for corporate scandals and business scams, providing you, the consumer, with corporate scandal news, facts and stories.

Apple's former attorney pays $2.2 Million

A former attourney at Apple has to pay $2.2 Million to settle charges of altering company records in order to gain from apple stocks.

A Shocking Number of U.S. Companies Pay No Income Tax

Two out of three U.S. corporations pay no federal income tax and 68% of Foregin owned companies manage to find their way out of paying as well.

US Housing Market Crisis Claims Another Victim

After being in business over 50 years, Macauley Companies Inc. and President Stephen H. Macauley have filed for bankruptcy after posing losses of over $130 Million

Beijing Olympics Tickets Scalped Online

Despite facing 15 days in jail, fines, and detentions scalpers continue to sell tickets for the Beijing Games. Some are up to 10X their origional price.

Major Airlines Management Clash With Workers

Hundreds of flight attendants, mechanics, ground workers and other employees are seething their bonuses being paid to managers

UBS Executives Cash in Just Before Crash

Executives at UBS cashed in over $21m of holdings in securities just prior to the market collapse.

Chairman and Chief Executive call Microsoft's Actions Stupefying

Buckle to the pressure of Microsoft or will can they hold out to only sell a part of the company.

Livent Inc. Accused of Ordering Fraudulent Manipulations

A former controller at Livent Inc. has come forward saying his job was to Manipulate the company's books and financial records.

Mark Lay to Pay $212 Million and Serve 12 Years in Prison

Mark Lay an investment advisor with the Ohio Bureau of Worker's Compensation. Lay is estimated to have cost Ohio over $216 Million over a high-risk hedge fund which was set up in Bermuda.

UnitedHealth Group Inc. to Pay $895 million

UnitedHealth Group will axe 4,000 jobs in an attempt to save enough
cash to settle a $895 million Employee Retirement Income Security Act settlement.

Microsoft Ordered to Pay Alcatel-Lucent over $500 Million

Microsoft has been accused of infringing on two Alcatel-Lucent patents
and has been ordered to pay over over $500 Million in compensation.

Siemens ex-CFO Accused of Taking Bribe

Heinz-Joachim Neubuerger former CFO of Siemens is accused of accepting bribes and the company is being investigated on over 2 billion dollars worth of suspect payments.

How Far Can Airliners Push Customers Before They Crack

US Airlines are raising fares, adding new fees, and pushing customers to the breaking point. Can the large US airlines even survive the fuel crisis?

American Airlines to Charge $15 for Checking Luggage

Your first checked bag with American Airlines will now cost you at least $15. While other hiden fees may be applied to oversized bags, reservation help and more.

Oil Hits $127 a Barrel and is Still Rising!

Yet OPEC ministers all agree that global oil supplies are enough to meet the demand and refuse to increase world supply

Upwards of 350,000 IRS Tax rebate Cheques Sent With Incorrect Amount

More then 350,000 tax cheques were mailed without the $300 per child rebate payment. The tax agency blames a combination of computer and human error.

$17 million for 9 months of work isn't bad at all!

The Pep Boys provided former CEO Jeffrey Rachor a package worth over 17 million last month.

Worlds Largest Money Manager Under Investigation for Tax Evasion

The Department of Justice is investigating USB AG for potentially helping its clients commit various acts of tax evasion.

George Clooney Clothing Line Pulled

Two people are under investigation for trying to sell counterfeit George Clooney clothing and accessories.

Mortgage Fraud Investigations Surge

The FBI says there has been a large surge in mortgage fraud investigations in recent months and the trend is expected to continue.

Is the US Economy at a Turning Point?

According to Federal Chairman Ben Bernanke the worst is yet to come. Our economy is so complex that a failure in one area can have unforeseen consequences in many others.

AIG Set to Sue Former CEO

American International Group Inc. filed a motion against Maurice Greenberg for a breach of duty. The AIG suit seeks to gain control of 290 million AIG shares from Starr International.

CVS Caremark Set to payout $37 Million in Fraud claims

CVS Caremark will pay more then $37 Million to settle fraud claims in almost 23 different states. The largest pharmacy chain in the US billed Medicaid programs for more then they needed.

Can The Business World Handle Another Worldcom or Enron?

Five ex-executives from National Century Financial Enterprises were convicted yesterday of securities fraud, money laundering, and conspiracy.
The fraud scandal is estimated to have cost the company $1.9 Billion.

More Then 44,000 Signup for a Share of the Voixx Settlent

More then 44,000 people who blame Vioxx for their heart attacks or strokes signed up for a share of the $4.85 billion settlement over the Voixx painkiller.

MF Global Trader Looses $141.5 Million

A rouge trader working at MF Global Ltd. lost over $140 Million this week trading wheat. MF Global Ltd. immediately fired the rouge trader.

Conrad Black is Asking For a Delay of His Jail Sentence

Conrad Black asked a judge for an emergencey delay of his jail sentence. The delay, if granted will ensure his appeal is decided before Conrad Black spends any time behind bars.

French Trader Scandal and Jail Time

Jerome Kerviel was sent to jail as investigations continued into his multi-billion dollar bank scam which cost the Societe Generale bank heavy losses.

Merck and Co. to Settle Claims for $671 Million

Claims that Merck and Co. overcharged for four drugs, two of which were Vioxx and Zocor. Drug companies are suppoesd to report their lowest prices for their products to try to avoid such as scam.

French Trader Scandal, Scam and Fraud all-in-one

It was discovered last week that a French trader Scamed the second largest bank in Fraance, Societe Generale for $7.1 Billion!

Former CEO of Brocade Communications Systems Inc. Sentenced

Brocade Communications Systems Inc. former CEO was sentenced to 21 months in jail for attempting to tamper with the companies stock options. Gregory Reyes was also fined $15 million.

Samsung Group Accused of Bribing Influential Figures

Prosecutors raided the headquarters of the Samsung Group Tuesday
seeking evidence that Samsung set up a fund aimed at bribing officials.

Warren Buffett and the AIG Scandal

Warren Buffett is named as a potential witness by Prosecutors as some believe he was involved. Up to now Warren Buffett has not been charged with any crime.