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7 of the biggest corporate scandals

From Bernie Madoff to Volkswagen, here are some of the most outrageous white-collar crimes and corporate scandals of recent times.

WorldCom accounting scandal

corporate scandals WorldCom
  • Estimated losses: $107 billion in assets

WorldCom, once the second biggest U.S. long-distance phone company, filed for bankruptcy in 2002 after it revealed its executives inflated the company's assets by $11 billion through dodgy accounting.

Tens of thousands of jobs were lost because of the scandal. Bernard Ebbers, the former CEO of WorldCom, was sentenced to 25 years in prison in 2005.

  @ivanakottasova - Last updated October 14 2015 12:23 PM ET

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