List: Corporate crime

by likeorhate

•  Enron

  "ENRON" redirects here. For the play of that title, see ENRON (play). Enron Corporation (former NYSE ticker symbol ENE) was an American energy company based in Houston, Texas. Before its bankruptcy in late 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years.

  

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•  Industrial espionage

  Industrial espionage or corporate espionage is espionage conducted for commercial purposes instead of national security purposes. The term is distinct from legal and ethical activities such as examining corporate publications, websites, patent filings, and the like to determine the activities of a corporation (this is normally referred to as competitive intelligence). Theoretically the difference between espionage and legal information gathering is clear.

  

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•  Arthur Andersen

  Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations.

  

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•  Hyundai Motor Company

  Hyundai Motor Company, a division of the Hyundai Kia Automotive Group, is the world's largest automaker by profit, the world’s fourth largest automaker by units sold and the world's fastest growing automaker. Headquartered in Seoul, South Korea, Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, which is capable of producing 1.6 million units annually.

  

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•  U.S. Securities and Exchange Commission

  The U.S. Securities and Exchange Commission (frequently abbreviated SEC) is an independent agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets. The SEC was created by section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the 1934 Act).

  

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•  MCI Inc.

  MCI, Inc. is an American telecommunications subsidiary of Verizon Communications that is headquartered in Ashburn, unincorporated Loudoun County, Virginia. The corporation was originally formed as a result of the merger of WorldCom (formerly known as LDDS followed by LDDS WorldCom) and MCI Communications, and used the name MCI WorldCom followed by WorldCom before taking its final name on April 12, 2003 as part of the corporation's emergence from bankruptcy.

  

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•  Samuel D. Waksal

  Samuel D. Waksal (born 8 September 1947) is the founder and former CEO of the biopharmaceutical company ImClone Systems, which developed the drug Erbitux (cetuximab). In the course of an insider trading scandal, he was convicted of several white collar crimes, served time in federal prison, and has now been released.

  

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•  Bhopal disaster

  The Bhopal disaster was an industrial catastrophe that took place at a pesticide plant owned and operated by Union Carbide (UCIL) in Bhopal, Madhya Pradesh, India. Around midnight on December 3-4, 1984, the plant released methyl isocyanate (MIC) gas and other toxins, resulting in the exposure of over 500,000 people. Estimates vary on the death toll. The official immediate death toll was 2,259 and the government of Madhya Pradesh has confirmed a total of 3,787 deaths related to the gas release.

  

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•  Corporate crime

  In criminology, corporate crime refers to crimes committed either by a corporation (i.e. , a business entity having a separate legal personality from the natural persons that manage its activities), or by individuals that may be identified with a corporation or other business entity. Note that some forms of corporate corruption may not actually be criminal if they are not specifically illegal under a given system of laws. For example, some jurisdictions allow insider trading.

  

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•  Federal Trade Commission

  The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of "consumer protection" and the elimination and prevention of what regulators perceive to be harmfully "anti-competitive" business practices, such as coercive monopoly. The Federal Trade Commission Act was one of President Wilson's major acts against trusts.

  

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•  Halliburton

  Halliburton is an oilfield services corporation with operations in more than 70 countries. It has close to 300 subsidiaries, affiliates, branches, brands and divisions worldwide. The company has its headquarters in the North Belt office in Houston, Texas, and in offices in Dubai, United Arab Emirates (opened March, 2007) where Chairman and CEO David J. Lesar works and resides, "to Focus [the] Company’s Eastern Hemisphere Growth. " The company will remain incorporated in the United States. U.S.

  

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•  Crazy Eddie

  Crazy Eddie is the name of a consumer electronics retailer conducting business through the internet and by telephone. The venture is the most recent to be doing business under the Crazy Eddie name, with the most well known (and later infamous) being a chain of retail stores that operated throughout New York, New Jersey, Pennsylvania, and Connecticut for nearly twenty years. Crazy Eddie was started in 1971 in Brooklyn, New York by businessmen Eddie and Sam M.

  

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•  Bribery

  Bribery, a form of pecuniary corruption, is an act implying money or gift given that alters the behavior of the recipient. Bribery constitutes a crime and is defined by Black's Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in charge of a public or legal duty. The bribe is the gift bestowed to influence the recipient's conduct.

  

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•  McJob

  McJob is slang for a low-paying, low-prestige job that requires few skills and offers very little chance of intracompany advancement. Such jobs are also known as contingent work. The term McJob comes from the name of the fast-food restaurant McDonald's, but is used to describe any low-status job — regardless of the employer — where little training is required, staff turnover is high, and workers' activities are tightly regulated by managers.

  

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•  White-collar crime

  Within the field of criminology, white-collar crime has been defined by Edwin Sutherland as "a crime committed by a person of respectability and high social status in the course of his occupation" (1949). Sutherland was a proponent of Symbolic Interactionism, and believed that criminal behavior was learned from interpersonal interaction with others.

  

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•  Bernard Ebbers

  Bernard John "Bernie" Ebbers (born August 27, 1941, Edmonton, Alberta) is a Canadian-born businessman. He co-founded the telecommunications company WorldCom and is a former chief executive officer of that company. In 2005, he was convicted of fraud and conspiracy as a result of WorldCom's false financial reporting, and subsequent US$11-billion loss to investors. The WorldCom scandal was, until the Madoff schemes came to light in 2008, the largest accounting scandal in United States history.

  

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•  Tyco International

  Tyco International Ltd. NYSE: TYC is a highly diversified global manufacturing company incorporated in Switzerland, with United States operational headquarters in Princeton, New Jersey (Tyco International Inc.). Tyco International is composed of five major business segments: ADT Worldwide, Fire Protection Services, Safety Products, Flow Control and Electrical and Metal Products.

  

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•  Adelphia Communications Corporation

  Adelphia Communications Corporation, named after the Greek word "brothers", was the fifth largest cable company in the United States before filing for bankruptcy in 2002 as a result of internal corruption. Adelphia was founded in 1952 by John Rigas in the town of Coudersport, Pennsylvania, which remained the company's headquarters until it was moved to Greenwood Village, Colorado shortly after filing for bankruptcy.

  

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•  Corporate scandal

  

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•  Titan Corp.

  Titan Corporation was a United States based company founded in 1981, with its headquartered in San Diego, California. It was acquired by L-3 Communications on June 3, 2005 and is currently operating as the "Titan Group" of L-3 Communications. In early 2007, divisions using the Titan Group name were internally told to stop using it and were given new names.

  

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•  Anti-corporate activism

  Anti-corporate activists believe that the rise of large business corporations is posing a threat to the legitimate authority of the public good. These corporations, they believe, are invading people's privacy, manipulating politics and governments, and creating false needs in consumers.

  

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•  Compass Group

  Compass Group plc, a British company, is a leading food service business. It provides catering services to many types of institutions, which include: schools, hospitals, prisons, airports, companies and resident healthcare homes. It is headquartered in Chertsey, Surrey to the south west of London. It is listed on the London Stock Exchange and is a member of the FTSE 100 Index.

  

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•  Corporate manslaughter (England and Wales)

  Corporate manslaughter is a criminal offence in English law, being an act of homicide committed by a company. In general, in English criminal law, a juristic person is in the same position as a natural person, and may be convicted for committing many offences. The Court of Appeal confirmed in one of the cases following the Herald of Free Enterprise disaster that a company can, in principle, commit manslaughter, although all defendants in that case were acquitted.

  

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•  Arthur Andersen LLP v. United States

  Arthur Andersen LLP v. United States, 544 U.S. 696 (2005) was a United States Supreme Court case in which the Court unanimously overturned accounting firm Arthur Andersen's conviction of obstruction of justice on the basis that the jury instructions did not properly portray the law Andersen was charged with breaking.

  

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•  Statement on Auditing Standards No. 99: Consideration of Fraud

  

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