Investing: How the iceberg theory helps spot dodgy practice | East Anglian Daily Times
Then there was the BCCI scandal. The bank claimed to have assets worth $20 billion, but that boast disguised a massive money laundering operation. Over in the United States, the expert manipulation of accounting loopholes worked for a while as Enron’s share price powered beyond $90 in mid-2000. The following year, the shares were valued at less than $1; Enron collapsed and several senior executives headed to gaol. Remember WorldCom? This was another US-based outfit which distributed impressiv...
Source: eadt.co.uk