In this article we are going to read about the 5 biggest bribery cases in business history, based on Insider Monkey’s article. Bribery can be found all over the world no matter where you live. Not only politicians, and ordinary people, but companies (larger or smaller ones) are also involved in briberies. Actually, there are large number of cases when companies broke laws and made huge profits from these activities. Insider Monkey now has collected the largest ones ever.
So let’s see what Insider Monkey has brought up with for you. We have picked up three briberies from their article, as usual. FIFA stands on the fifth spot. The leadership of FIFA was accused of bribery and rigging of votes to ensure infamous chief Sepp Blatter remaining the President. What’s more, many of occials in FIFA have been accused of racketeering, freud and money laundering. The 1MDB Fund is on the fourth spot with an unbelievable story. 1MDB was a development company, run by the government, but a prominent businessman transferred its funds to his own bank accounts. He embezzled at least $700 million. Najib Razak, who was the Prime Minister in Malaysia, was also involved, with tens of millions of dollars. The company ended up with having a debt of nearly $12 billion, of which $3 billion were due to a state-issued bond. Even the Wolf of Wall Street was financed from this large amount. In the end, Najib was removed from his Prime Minister position and Mahathir Mohamad was elected instead. Mohamad started an investigation against Najib, who was sentenced for twelve years in prison in the end. At last, but not least, Siemens stands on the third spot on Insider Monkey’s list. At the company it was a standard procedure to pay bribes to secure contracts. Siemens paid briberies in several countries, altogether more than $1.3 billion. The company had to pay fines of $800 million in Germany and the United States. If you want to read more exciting facts about the biggest bribery cases in business history, please click and jump to see the entire article.
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