5 Biggest Stock Scams In Recent Years

3. WorldCom

One of the biggest scandals in the history of the United States took place in 2002, relating to the second largest long distance telephone company in the US. For at least 3 years, the main executives of the company created a scheme which saw them massively inflate earnings to ensure that the stock price of the company would not fall. It was only in 2002, after three years, that the internal audit department head discovered that over $3.8 billion of assets were related to false entries. The company eventually accepted that assets were overstated by $11 billion, which was the biggest such number in history at the time.