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went to purchases of luxury cars, yachts and real estate. For example, after the Rana Plaza collapse in 2013, H&M promised to give its workers a fair wage by 2018. These are UK subsidiaries of the Brazilian meat giant JBS, a company notorious for its role in forest destruction. There were many eye-popping fraud stories in 2021, but not all of them could make it into the top five. ), In July, the Vatican indicted 10 individuals and four companies on charges of embezzlement, money laundering, fraud and abuse of office for their involvement in the botched London investment, which cost the Vatican 350 million euros. The 7 Epic Brand Disasters of 2021 | Inc.com 7) WorldCom 2002: the Telecomms business experienced falling share prices and failed in a buyback scheme. And not surprisingly, Nike has been exposed as using Uyhgar forced labor, causing more uproar and boycott against the brand. First, and most importantly, we still only recommend products that we believe add value for you. The fund in early July submitted its findings to regulators and said it had evidence to believe that the terminated executives had violated securities law. Many states were running their systems with obsolete software unable to withstand the surge of claims. In May 2006, one of the brands suppliers revealed that they were made to work over 100 hours a week and hadnt received compensation for six months. Colonial Pipeline eventually paid the hackers nearly $5 million in bitcoin and resumed its operations five days later but not It is a passion project of mine and I love to share helpful information with you to make a positive impact on the world and society. And when there is an affiliate program for these products, we sign up for it. Impactful Ninja is reader-supported. This includes all operating costs for running this site and the content creation itself. The biggest business scandals of 2020 - Yahoo Finance Corporate scandals News, Research and Analysis - The Conversation 28, 2021. ), Since the start of the trial, the judge has ordered prosecutors to give the defense more access to evidence and to question defendants who didnt speak earlier in the trial. Coca Cola feature in our product guide to soft drinks. Bean Tweet, Japan Press Weekly: UNIQLO clothes made using sweatshop labor in China, Quartz: A watchdog group suggests H&Ms promise to pay workers better was a publicity stunt, Global Citizen: Hundreds of H&M and Gap Factory Workers Abused Daily: Report, Save Uighur: 83 Companies Linked to Uighur Forced Labor, WiseStep: Top 28 Companies That Use Child Labor, The Guardian: Revealed: auditors raised minimum-wage red flags at Boohoo factories, Elle: Boohoo Purchases Nasty Gal After 2016 Bankruptcy Filing, Bloomberg: Boohoo Found Negligent in Review of Suppliers Labor Issues, Fox News: Shoppers slam fashion retailer over cheap bikini: Disgusting, questionable ethics, The Mirror: Sweatshop Britain: Workers are paid 3 in UK factories supplying high street stores, China Labor Watch: The Dark World of Disney, CNBC: Nightmare conditions at Chinese factories where Hasbro and Disney toys are made.