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|Tyco International Case Study|
On the 12 September 2002 the SEC charged Dennis Kozlowski, Mark Swartz and Mark Belnick with fraud. Their actions caused Tyco International Ltd losses of an estimated $600-million.
|Ahold Case Study|
On February 24th 2003 the Netherlands based Royal Ahold admitted to overstating 2001 and 2002 profits by more than $500 million. Shares fell by almost 63 percent to 2.91€ – the lowest value recorded since mid-1988
|Adelphia Communications Corp. Case Study|
In June 2002 Adelphia Communications Corp. was forced to file for bancruptcy due to the discovery of large amounts of unrecorded debt floating within the company. The debt accumulated due to insider deals and personal loans taken on behalf of the Rigas family. The scandal resulted in Adelphia very nearly being delisted from the Nasdaq stock exchange.
|Global Crossings Ltd Case Study|
In January 2002 Global Crossings Ltd. filed for bankruptcy due to the discovery of an accounting scandal in which the company had allegedly inflated earnings via the use of capacity swaps and other 'accounting tricks'. To date, the bankruptcy is the fourth largest ever to be recorded in US history.
|Pilgrim Baxter & Associates Ltd Case Study|
On 13 November 2003 Harold Baxter and Gary Pilgrim, the two founding members of Pilgrim Baxter & Associates, resigned. A week later they were charged with fraud and breach of fiduciary duty in connection with market timing of a high-powered growth fund.
|Parmalat Case Study|
Parmalat, the large Italian food giant, hit headlines at the end of 2003 due to the unexplained disappearance of nearly $13 billion in company assets.
|Macmed Case Study|
South African health care group, Macmed, collapsed in 1999 due to fraudulent activities conducted by senior management. Of the 16 directors and board members accused, only two ended up facing civil charges.
|LeasureNet Case Study|
All 13 directors of LeisureNet are set to feel the heat of the group's collapse in October 2000.