5 Biggest Corporate Frauds in US History

1. Lehman Brothers

Estimated Losses: $600 Billion

Lehman Brothers, a prominent investment bank, declared bankruptcy on September 15, 2008. The bank’s downfall was primarily a result of its high-stakes investments in subprime mortgages and various securities, rendering it vulnerable to substantial losses when the financial markets experienced a catastrophic collapse. This bankruptcy stands as one of the most significant financial scandals in the history of the United States. It symbolized the zenith of the subprime mortgage crisis, with far-reaching implications for Lehman Brothers, its stakeholders, the global financial system, and the broader economy.

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