Arun Nachiappan, BBA. LLB, Symbiosis Law School, Pune
ABSTRACT
It is very much obvious that the society is familiar with the term “Corporate Scandals”. After the scenarios such as Enron and WorldCom, this term has been the wakeup call of all the other companies over the world. This paper intends to reveal various such instances but the scams and scandals are only restricted to scams committed by the CEOs of the company. The difference between company’s assets and personal assets has to recognized by the CEOs and as and when the CEOs crosses such a boundary, corporate scam is said to have occurred. Therefore, this paper intends to incorporate a fact that when CEOs are less accountable for their actions, scams said to have taken place by misusing the power and position in the company. Moreover, it also intends to quote few reasons for such frauds committed by CEOs and suggest various measures to eradicate such a practice.
