https://list25.com/25-biggest-corporate-scandals-ever/3/
Global Crossing Ltd. could not fight off its debts of $12.4 billion in 2002 and filed for bankruptcy. The debt was shared by 4 CEO’s that each acquired $23 million in personal loans that ended up being forgiven. This company’s filing for bankruptcy is the 7th largest in American history. The bankruptcy resulted in many losing their jobs.