Corporate & Accounting Fraud Case Library

Every case in this library represents a major public enforcement episode at an issuer or accounting firm. Each record joins the underlying SEC administrative releases, DOJ criminal indictments and sentencing orders, PCAOB auditor disciplinary actions, restatements, and foreign regulatory records.

CASE ARCHIVE METRICS
  • 62 corporate fraud and accounting cases are indexed across 14 international jurisdictions.
  • All entries link directly to verified public records: SEC AAERs, DOJ criminal dockets, PCAOB disciplinary orders, and foreign tribunal findings.
  • Filtering is available across jurisdiction, scheme type, audit firm, and judicial outcome.
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ALL ENFORCEMENT CASES (62)

ORDERED BY FIRST ACTION DATE
Case Title Jurisdiction Status Primary Scheme Overstatement Penalties (USD) Auditor Action Date
WorldCom: $11B Operating Expense Capitalization Fraud
WorldCom, Inc.
US Adjudicated capitalising operating expenses $11.0B $750.0M Arthur Andersen LLP June 26, 2002
Enron Corp.: Off-Balance-Sheet SPEs and Mark-to-Model Fabrication
Enron Corp.
US Adjudicated off balance sheet entities $1.2B $23.8M Arthur Andersen LLP October 31, 2001
Wirecard AG: 1.9 Billion Euro Fictitious Cash Fraud
Wirecard AG
DE Adjudicated fictitious cash and assets $2.1B $0 Ernst & Young LLP June 22, 2020
Satyam Computer Services: $1B Fabricated Cash and Ghost Employees
Satyam Computer Services Ltd.
IN Adjudicated fictitious revenue $1.0B $290.0M PricewaterhouseCoopers LLP January 9, 2009
Carillion plc: Aggressive Contract Revenue and Going-Concern Concealment
Carillion plc
GB Adjudicated premature recognition $1.4B $27.0M KPMG LLP January 29, 2018
Luckin Coffee: $300M Fabricated App Sales and Circular Cash Scheme
Luckin Coffee Inc.
CN Settled, neither admitted nor denied fictitious revenue $311.0M $180.0M Ernst & Young LLP September 20, 2022
Parmalat: $4.9B Forged Bank of America Deposit Certificate
Parmalat Finanziaria S.p.A.
IT Adjudicated fictitious cash and assets $4.9B $0 Grant Thornton LLP September 20, 2005
Toshiba Corporation: $1.9B 'Challenge' Pressure Profit Inflation
Toshiba Corporation
JP Adjudicated premature recognition $1.9B $62.0M Ernst & Young ShinNihon LLC September 20, 2017
Sino-Forest Corporation: Fictitious Timberland Holdings and Valuation Fraud
Sino-Forest Corporation
CA Adjudicated reverse merger fraud $3.0B $0 Ernst & Young LLP September 20, 2013
Americanas S.A.: R$20B Off-Balance-Sheet Supplier Risk Financing
Americanas S.A.
BR Alleged undisclosed related party transactions $4.1B $0 PricewaterhouseCoopers LLP September 20, 2025
Patisserie Valerie: £94M Forged Invoices and Secret Overdrafts
Patisserie Holdings plc
GB Adjudicated fictitious revenue $120.0M $3.1M Grant Thornton LLP September 20, 2021
Computer Associates: $2.2B '35-Day Month' Revenue Backdating
Computer Associates International, Inc.
US Adjudicated premature recognition $2.2B $225.0M KPMG LLP September 20, 2006
Nortel Networks: Cookie-Jar Reserve Manipulation for Executive Bonuses
Nortel Networks Corporation
CA Settled, neither admitted nor denied cookie jar reserves $3.2B $35.0M Deloitte & Touche LLP September 20, 2006
Tyco International: $600M Executive Looting and Reserve Accounting
Tyco International Ltd.
US Adjudicated undisclosed related party transactions $600.0M $50.0M PricewaterhouseCoopers LLP September 20, 2004
Adelphia Communications: $2.3B Off-Balance-Sheet Family Co-Borrowing
Adelphia Communications Corp.
US Adjudicated off balance sheet entities $2.3B $715.0M Deloitte & Touche LLP September 20, 2004
Lehman Brothers: $50B Repo 105 Balance Sheet De-leveraging
Lehman Brothers Holdings Inc.
US Adjudicated debt classification and covenant concealment $50.0B $0 Ernst & Young LLP September 20, 2010
Bristol-Myers Squibb: $2B Channel Stuffing with Wholesaler Incentives
Bristol-Myers Squibb Company
US Settled, neither admitted nor denied channel stuffing $2.0B $150.0M PricewaterhouseCoopers LLP September 20, 2006
Waste Management: $3.5B Depreciation Useful Life Extension Scheme
Waste Management, Inc.
US Settled, neither admitted nor denied depreciation and useful life $3.5B $457.0M Arthur Andersen LLP September 20, 2000
Sunbeam Corporation: 'Chainsaw Al' Dunlap's Big Bath and Bill-and-Hold
Sunbeam Corporation
US Settled, neither admitted nor denied big bath $60.0M $500K Arthur Andersen LLP September 20, 2000
Xerox Corporation: $1.5B Lease Acceleration and Reserve Manipulation
Xerox Corporation
US Settled, neither admitted nor denied multiple element manipulation $1.5B $10.0M KPMG LLP September 20, 2003
Brocade Communications: Criminal Options Backdating Scheme
Brocade Communications Systems, Inc.
US Adjudicated options backdating $150.0M $7.0M KPMG LLP September 20, 2008
Diebold, Inc.: Bill-and-Hold and Factory Floor Premature Revenue Recognition
Diebold, Incorporated
US Settled, neither admitted nor denied bill and hold $127.0M $25.0M KPMG LLP September 20, 2007
Global Crossing: Hundreds of Millions in Reciprocal Fiber Capacity Swaps
Global Crossing Ltd.
US Settled, neither admitted nor denied round tripping $750.0M $0 Arthur Andersen LLP September 20, 2004
Qwest Communications: $3B Sham Optical Capacity Swaps and False Metrics
Qwest Communications International Inc.
US Settled, neither admitted nor denied round tripping $3.0B $250.0M Arthur Andersen LLP September 20, 2004
Colonial Bank: $2.9B Fake Mortgage Collateral Fraud with Taylor Bean
Colonial BancGroup, Inc.
US Adjudicated loan loss provisioning $2.9B $625.0M PricewaterhouseCoopers LLP September 20, 2013
Let's GOWEX: 90% Fabricated Municipal Wi-Fi Contracts and Revenues
Let's GOWEX S.A.
ES Adjudicated fictitious revenue $180.0M $0 M&A Auditores September 20, 2016
Noble Group: Aggressive Mark-to-Model Commodity Contract Valuations
Noble Group Limited
SG Settled, neither admitted nor denied fair value manipulation $1.5B $126.0M Ernst & Young LLP September 20, 2022
Banco Popular: Concealment of Real Estate Loan-Loss Provisions
Banco Popular Español S.A.
ES Adjudicated loan loss provisioning $3.7B $0 PricewaterhouseCoopers LLP September 20, 2020
Volkswagen: Material Omission of Emissions Defeat Devices in Bond Offerings
Volkswagen AG
DE Settled material omission $15.0B $4.3B PricewaterhouseCoopers LLP September 20, 2017
Theranos: Fabricated Revenue Projections and Fake Blood Analyzer Demos
Theranos, Inc.
US Adjudicated misleading non gaap and kpis $700.0M $500K PricewaterhouseCoopers LLP September 20, 2020
Thomas Cook: Going-Concern Concealment and Software Capitalization
Thomas Cook Group plc
GB Adjudicated going concern concealment $1.1B $0 Ernst & Young LLP September 20, 2021
Olympus: 20-Year 'Tobashi' Scheme Concealing $1.7B Investment Losses
Olympus Corporation
JP Adjudicated acquisition accounting abuse $1.7B $92.0M KPMG AZSA LLC September 20, 2018
Dynegy: Project Alpha Financing Disguised as Operating Cash Flow
Dynegy Inc.
US Settled, neither admitted nor denied round tripping $300.0M $3.0M Arthur Andersen LLP September 20, 2004
UnitedHealth Group: Decades-Long Options Backdating and $400M Clawback
UnitedHealth Group Incorporated
US Settled, neither admitted nor denied options backdating $1.5B $400.0M Deloitte & Touche LLP September 20, 2008
China MediaExpress: Reverse Merger Shell with Fabricated Bank Statements
China MediaExpress Holdings, Inc.
CN Adjudicated reverse merger fraud $100.0M $0 Deloitte & Touche LLP September 20, 2013
Symbol Technologies: 'Candy Deals' and Widespread Revenue Stuffing
Symbol Technologies, Inc.
US Adjudicated side letters $230.0M $37.0M Deloitte & Touche LLP September 20, 2005
Fannie Mae: Loan-Loss Reserve Manipulation to Trigger Executive Payouts
Federal National Mortgage Association
US Settled, neither admitted nor denied allowance manipulation $6.3B $400.0M KPMG LLP September 20, 2010
Delphi Corporation: Sham Battery Inventory Transactions and Off-Balance Financing
Delphi Corporation
US Settled, neither admitted nor denied round tripping $1.2B $0 Deloitte & Touche LLP September 20, 2007
Homestore.com: Triangular Round-Trip Online Advertising Barter Deals
Homestore, Inc.
US Adjudicated barter and nonmonetary $46.0M $0 PricewaterhouseCoopers LLP September 20, 2004
AOL Time Warner: $1B Round-Trip and Nonmonetary Advertising Swaps
AOL Time Warner Inc.
US Settled, neither admitted nor denied barter and nonmonetary $1.0B $510.0M Ernst & Young LLP September 20, 2004
W.R. Grace & Co.: Landmark SEC Cookie-Jar Reserve Action
W.R. Grace & Co.
US Settled, neither admitted nor denied cookie jar reserves $20.0M $0 PricewaterhouseCoopers LLP September 20, 2001
Crazy Eddie: Altered Inventory Count Sheets and Phony Invoices
Crazy Eddie, Inc.
US Adjudicated phantom inventory $80.0M $15.0M Peat Marwick Mitchell & Co. September 20, 1988
Phar-Mor: $500M Phantom Inventory Ledger and Subordinate Bribery
Phar-Mor, Inc.
US Adjudicated phantom inventory $500.0M $0 Coopers & Lybrand September 20, 1994
Autonomy Corp: Hardware Resale Disguised as High-Margin Software
Autonomy Corporation plc
GB Adjudicated gross vs net $8.8B $0 Deloitte & Touche LLP September 20, 2014
General Electric: $200M SEC Penalty for Long-Term Care and Power Accounting
General Electric Company
US Settled, neither admitted nor denied segment misreporting $22.0B $200.0M KPMG LLP September 20, 2020
Tesco plc: £250M Premature Commercial Supplier Income Pull-Forward
Tesco plc
GB Adjudicated premature recognition $330.0M $160.0M PricewaterhouseCoopers LLP September 20, 2019
Steinhoff International: €6.5B Fictitious Transactions and Hidden Off-Balance Entities
Steinhoff International Holdings N.V.
ZA Adjudicated off balance sheet entities $7.3B $31.0M Deloitte & Touche LLP September 20, 2020
BHS: Audit Failure and Sale for £1 Prior to Catastrophic Pension Collapse
British Home Stores (BHS)
GB Adjudicated audit failure $750.0M $13.0M PricewaterhouseCoopers LLP September 20, 2021
Boeing: $200M SEC Settlement for Misleading 737 MAX Safety Disclosures
The Boeing Company
US Settled, neither admitted nor denied material omission $2.5B $200.0M PricewaterhouseCoopers LLP September 20, 2023
WeWork: 'Community Adjusted EBITDA' and Concealed Self-Dealing Leases
WeWork Inc.
US Settled, neither admitted nor denied misleading non gaap and kpis $1.6B $0 Ernst & Young LLP September 20, 2021
KPMG PCAOB Leak Scandal: Stealing Regulators' Inspection Lists to Alter Workpapers
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US Adjudicated workpaper alteration $0 $50.0M KPMG LLP September 20, 2020
Arthur Andersen: Document Shredding and Obstruction of Justice in Enron Audit
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US Adjudicated workpaper alteration $0 $0 Arthur Andersen LLP September 20, 2003
PricewaterhouseCoopers: $7.9M SEC Settlement for Nationwide Independence Violations
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US Settled, neither admitted nor denied independence violation $0 $7.9M PricewaterhouseCoopers LLP September 20, 2021
Ernst & Young: Independence Violations from Commercial and Romantic Ties
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US Settled, neither admitted nor denied independence violation $0 $9.3M Ernst & Young LLP September 20, 2016
Kobe Steel: Systematic Falsification of Quality Certificates for Decades
Kobe Steel, Ltd.
JP Adjudicated material omission $100.0M $0 KPMG AZSA LLC September 20, 2019
Samsung BioLogics: 4.5 Trillion Won Acquisition Accounting Inflation
Samsung BioLogics Co., Ltd.
KR Adjudicated acquisition accounting abuse $3.8B $7.0M Samjong KPMG September 20, 2020
Daewoo Shipbuilding: 5 Trillion Won Loss Concealment via Percentage-of-Completion
Daewoo Shipbuilding & Marine Engineering
KR Adjudicated premature recognition $4.5B $0 Deloitte Anjin LLC September 20, 2018
Pescanova: €3B Hidden Debt via 40 Unconsolidated Shell Companies
Pescanova S.A.
ES Adjudicated off balance sheet entities $3.4B $0 BDO LLP September 20, 2015
Greensill Capital: Prospective Receivables and Multi-Billion Credit Concentration
Greensill Capital
GB Adjudicated fictitious revenue $5.0B $0 PricewaterhouseCoopers LLP September 20, 2023
Petrobras: $2.5B Capitalized Contractor Bribes and Cartel Overpayments
Petróleo Brasileiro S.A. - Petrobras
BR Settled capitalising operating expenses $2.5B $1.8B PricewaterhouseCoopers LLP September 20, 2017
Puda Coal: Reverse Merger Fraud and Secret Theft of Operating Asset
Puda Coal, Inc.
CN Adjudicated reverse merger fraud $150.0M $0 Moore Stephens LLP September 20, 2013
China Evergrande: 564B Yuan Revenue Inflation on Incomplete Apartments
China Evergrande Group (Hengda Real Estate)
CN Adjudicated premature recognition $78.0B $577.0M PricewaterhouseCoopers LLP September 20, 2023