“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.
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corporate fraud
3 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.
Nikola Motors Fraud: The $34 Billion Fake Hydrogen Truck Company
They promised a revolution in clean energy. They showed the world a silent, powerful hydrogen truck. But the truck had no engine—it was a ghost rolling downhill. Discover the full story of the Nikola Motors fraud, a $34 billion illusion that fooled the world and left a trail of financial ruin.