Word: enronization
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Dates: during 2000-2009
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...biggest corporate scam in European history was exposed when Parmalat confirmed that an account it had claimed to have at Bank of America with €3.95 billion in cash simply did not exist. That was merely the first revelation in the scandal that turned Parmalat into Europe's Enron, a morass of fraud and financial failure made all the more dramatic by the fact that the company was Italy's eighth largest and had established itself as a global consumer brand. In the past year, the story of Parmalat has emerged in fits and starts, as three teams of forensic...
...their time here without at least a few drug indulgences themselves. Theatricals, too, have their own sordid history—especially the Hasty Pudding kind. Most will remember that a couple of years ago, two Pudding producers were charged with embezzlement of over $200,000 (they learned it from Enron, not Harvard, we swear), a large portion of which apparently went to support a producer’s own heavy drug habit...
...with a company with international offices?” This essentially means consulting firms, international banks or other sundry companies that remind me of the evil corporation in the recent remake of The Manchurian Candidate. I am not particularly excited at the prospect of working for a Halliburton, an Enron, a WorldCom, a Hollinger or a Marsh and McClellan...
...Indy’s Nov. 30 cover story, “Sex, Lies, and Bouncing Checks,” seemed to promise a salacious tale of erotic accounting a la Playboy’s recent spread, “The Women of Enron.” (Bouncing checks? Sounds...
...expelled its Italian member firm from its international network and says matters relating to Parmalat are not its responsibility. Two former Grant Thornton partners in Italy are awaiting trial on fraud charges they deny. Deloitte says Parmalat itself was responsible for any fraud. Bondi is betting that after the Enron debacle, which brought down Arthur Andersen, it'll be hard for the auditors to persuade courts that they were deceived. - By Peter Gumbel Calm After The Storm In the first loss estimate based on insurance claims, the U.S. Insurance Information Institute put the cost of Hurricane Charley to insurers...