10Collapse or recovery after white-collar crime
Introduction
Some corporations collapse when the organization is hit by a white-collar crime crisis in terms of detection and prosecution. Classic examples include Enron and WorldCom (Soltani, 2014). Enron (and their auditing firm Andersen) went bankrupt because of a white-collar crime crisis in 2001 (Powers et al., 2002), while WorldCom went bankrupt because of a white-collar crime crisis in 2002 (WilmerHale and PwC, 2008). Some companies are able to recover after white-collar crime detection and prosecution. A classic example is Siemens, which has faced the greatest bribery scandal in the history of German business. In 2004, Siemens faced a series of bribery and money laundering ...
Get The Routledge Companion to Risk, Crisis and Security in Business now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
