What illegal activity did Barry Minkow engage in?
Accounting fraud
Tax evasion
Insider trading
Embezzlement
Barry Minkow was involved in accounting fraud with his company, ZZZZ Best. He fabricated financial statements and inflated company revenue to deceive investors and inflate the stock price.
Which scandal was John Gutfreund associated with?
Salomon Brothers scandal
Lincoln Savings crisis
BCCI fraud
Wedtech scandal
John Gutfreund, the CEO of Salomon Brothers, was involved in a scandal where the firm submitted false bids to buy U.S. Treasury securities. This led to regulatory changes and his resignation from the firm.
Who was implicated in the Toyota Lobby scandal in Japan?
Shin Kanemaru
John Gutfreund
Gerald Ronson
Michael Milken
Shin Kanemaru, a Japanese politician, was implicated in the Toyota Lobby scandal. The scandal involved illegal donations from companies, including Toyota, to political figures, leading to widespread political corruption.
What savings and loan crisis was Michael Milken linked to?
Lincoln Savings
Hibernia Bank
Sunbelt Savings
Beverly Hills S&L
Michael Milken was linked to the Lincoln Savings and Loan scandal, which involved high-risk investments that led to the collapse of the savings institution. This crisis cost taxpayers billions and highlighted widespread corruption.
What was the scam behind the European Kings Club?
Ponzi scheme
Insider trading
Tax evasion
Embezzlement
The European Kings Club was a Ponzi scheme where investors were promised high returns on their investments. In reality, the returns were paid using the capital of new investors, leading to significant financial losses when the scheme collapsed.
What was the major scandal involving the firm Drexel Burnham Lambert?
Insider trading
Tax evasion
Junk bond fraud
Embezzlement
Drexel Burnham Lambert was known for junk bond fraud, primarily orchestrated by Michael Milken. The firm engaged in risky high-yield bond trading, leading to significant financial losses and the eventual collapse of several companies.
Which company did Charles Keating lead during his scandal?
Lincoln Savings
Merrill Lynch
Salomon Brothers
Drexel Burnham
Charles Keating was the chairman of Lincoln Savings and Loan Association, which collapsed due to risky investments and fraudulent activities. His actions were central to the savings and loan crisis of the late 1980s.
Who was involved in the Guinness share-trading fraud?
Gerald Ronson
Ivan Boesky
Michael Milken
Barry Minkow
Gerald Ronson was a key figure in the Guinness share-trading fraud. The scandal involved manipulating the price of Guinness shares to facilitate a takeover, resulting in several high-profile convictions for financial misconduct.
Which company was at the center of the Oscar Wyatt scandal?
Coastal Corporation
Lincoln Savings
Drexel Burnham
ESM Securities
Oscar Wyatt, the CEO of Coastal Corporation, was involved in the scandal regarding the United Nations’ Oil-for-Food Program. He was found guilty of paying illegal kickbacks to the Iraqi government to secure oil contracts.
What fraudulent activity was uncovered in the ESM Government Securities case?
Ponzi scheme
Insider trading
Tax evasion
Money laundering
ESM Government Securities was involved in a Ponzi scheme, where they misappropriated funds from clients to pay returns to earlier investors. This scam led to the bankruptcy of several savings and loans institutions.
What was the main financial scandal involving Ivan Boesky?
Insider trading
Ponzi scheme
Money laundering
Tax evasion
Ivan Boesky was involved in insider trading during the 1980s, making millions by trading on confidential information about corporate mergers and acquisitions. He was eventually caught and became a symbol of Wall Street greed.
What was the infamous financial fraud involving the BCCI?
Embezzlement
Insider trading
Money laundering
Ponzi scheme
The Bank of Credit and Commerce International (BCCI) was involved in extensive money laundering activities. It was used for illicit activities, including tax evasion and support of terrorism, leading to its eventual closure in 1991.
What kind of fraud was Drexel Burnham Lambert famous for?
Insider trading
Tax evasion
Embezzlement
Junk bond fraud
Drexel Burnham Lambert was infamous for junk bond fraud, orchestrated by Michael Milken. They were involved in high-yield bond trading that often led to the collapse of companies and significant financial losses.
Who was the key figure in the EF Hutton check kiting scandal?
Robert Freeman
Charles Keating
Michael Milken
Barry Minkow
Robert Freeman, a senior executive at EF Hutton, was a key figure in the check kiting scandal. The firm manipulated the timing of check deposits to inflate their financial position, resulting in legal penalties and reputational damage.
Which company’s CEO was involved in the Leasco fraud case?
Time Inc.
CBS
Leasco
Texaco
Leasco Data Processing Equipment Corporation was involved in a fraudulent scheme where the CEO, Saul Steinberg, manipulated stock prices and financial statements to create the illusion of profitability and growth.
What type of scandal was the ZZZZ Best case?
Tax evasion
Insider trading
Accounting fraud
Ponzi scheme
ZZZZ Best was involved in an accounting fraud scandal. The company, led by Barry Minkow, fabricated financial statements and fake revenue to deceive investors and inflate the stock price.
Who was convicted in the Wedtech scandal?
Mario Biaggi
Charles Keating
Ivan Boesky
Michael Milken
Mario Biaggi, a U.S. Congressman, was convicted in the Wedtech scandal. Wedtech Corporation secured government contracts through bribery and political corruption, and Biaggi was found guilty of accepting bribes in exchange for favors.
What type of fraud was the PTL Club scandal?
Tax evasion
Accounting fraud
Ponzi scheme
Insider trading
The PTL Club, led by televangelist Jim Bakker, was involved in accounting fraud. The organization misused funds raised from donors and failed to deliver promised returns, leading to financial and legal troubles for Bakker.
Which scandal involved the Bank of Boston?
Money laundering
Insider trading
Ponzi scheme
Accounting fraud
The Bank of Boston was involved in a money laundering scandal where it failed to report large cash transactions, violating federal laws. The scandal led to increased scrutiny and regulatory changes in the banking industry.
Who was the central figure in the Equity Funding scandal?
Stanley Goldblum
John Gutfreund
Barry Minkow
Gerald Ronson
Stanley Goldblum was the central figure in the Equity Funding scandal, which involved creating fake insurance policies and inflating company assets. The fraud was discovered in the early 1970s, leading to one of the largest financial collapses of the time.
Scammed and Confused?
Your 1980s scam knowledge could use a boost!
Shady Sleuth
You know a fair bit about the infamous scandals, nice work!
Scam Buster
You’re a pro at spotting the 1980s scams, great job!
