“Eight is great!” the sales goal at Wells Fargo. Eight products per customer. Except customers didn’t want eight accounts. So employees created them anyway. Without permission. 3.5 million fake accounts. Secret credit cards. Forged signatures. Customers charged fees they never authorized. And when whistleblowers complained? Fired. 5,300 employees eventually terminated. But the executives who created the pressure? They kept their bonuses.
Month: November 2025
4 posts
Enron Accounting Fraud: How Employees Lost Their Retirement
America’s 7th largest company. “Most Innovative Company” six years running. Then one analyst asked: “How exactly are you making money?” The CEO attacked him. Three months later, Enron filed bankruptcy. $74 billion in market value vanished. 20,000 employees lost everything. Their 401(k)s were frozen while executives sold $1 billion in stock. This is Enron—the fraud that rewrote accounting rules.
WeWork Collapse: Adam Neumann’s $47 Billion Valuation Scam
$47 billion valuation. “We’re elevating the world’s consciousness,” the CEO said while walking barefoot and smoking weed. Then investors read the IPO filing. Losses of $1.9 billion annually. No path to profit. A CEO who’d sold $700 million in stock while employees got nothing. Six weeks later, the IPO was dead. The CEO was fired. And the “tech company” was revealed as an office rental business losing money on every desk.
The $9 Billion Theranos Fraud: How Elizabeth Holmes Fooled Everyone
A 19-year-old dropout promised to revolutionize blood testing with one drop from a finger prick. Investors poured in $945 million. Walgreens made her a partner. Forbes called her the youngest self-made female billionaire. Then a reporter asked one question: “Does the technology actually work?” Everything collapsed. Patients got false results. Lives were endangered. And Elizabeth Holmes is now in prison.