Top 3 Fake Companies in America of All Time.

Understanding how disasters happened to investors in the past can help current investors avoid them in the future. Today we will discuss about Top 3 Fake Companies in America of All Time.

Top 3 Fake Companies in America of All Time.

Top 3 Fake Companies in America of All Time.

1: Worldcom

The WorldCom scandal was a major accounting scandal that came to light in the summer of 2002 at WorldCom, which at the time was the second largest long distance telephone company in the United States. From 1999 to 2002, WorldCom’s senior executives, led by founder and CEO Bernard Ebbers, created a plan to increase earnings in order to maintain WorldCom’s share price. 

Since Sethi didn’t provide enough information, Cooper went to the head of assets at WorldCom, Mark Abide. Abide claimed that it was not aware of the prepaid capacity, even though it had made several entries on it in the computerized accounting system. Not having any new information, he asked Abide to provide the accounts for which he had booked the relevant entries.

2: Waste Management.

Waste management or waste disposal includes the processes and actions required to manage waste from its inception to its final disposal. This includes monitoring and regulating the waste management process and laws, technologies, economic mechanisms related to waste, as well as the collection, transportation, treatment and disposal of waste.

The polluter-pays principle states that the polluting party pays for the effect on the environment. In relation to waste management, it usually refers to requiring the waste generator to pay for the proper disposal of unrecyclable material.

3: Enron.

Enron Corporation was an American energy, commodities and services company based in Houston, Texas. It was founded in 1985 by Kenneth Lay as a merger between relatively small regional companies Lay’s Houston Natural Gas and InterNorth.

Prior to its bankruptcy on December 2, 2001, Enron employed approximately 20,600 workers and was a major electricity, natural gas, communications, and pulp and paper company, which claimed revenues of approximately $101 billion during 2000. Fortune’s Name Was Enron “Amer”.

4: Centennial Technologies.

Centennial Communications and its subsidiaries (Centennial Wireless and Centennial de Puerto Rico) provided wireless and broadband telecommunications services to wireless telephone customers in the United States, Puerto Rico and the US Virgin Islands.

On March 13, 2007, Centennial Communications completed the sale of Centennial Dominicana to Trilogy International Partners for approximately $80 million in cash.


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