5. BT Italian Division Scandal
Loss: £530 million
Year: 2017
It appears that sometimes it is easier to commit crimes outside the island. BT or the British Telecom is the next one on the list of biggest recent accounting scandals in UK because it lost £530 million due to what The Guardian quotes as “inappropriate management behavior” of BT’s Italian branch. What that really comprises are the frauds and bullying. As it is expected, the company’s shares are plummeting at the moment, but cutting down the CEOs’ salaries should help a little. British Telecom has also announced major lay-offs as well. Since it happened in 2017, and the sum is pretty high, this is one of the biggest recent accounting scandals in UK.
