Misconduct? Fraud? Embezzlement? Full-blown racism? Man, we thought white collar crimes would be a lot more bland than this. It’s too bad, because we were looking for a nice relaxing list today.
We just thought that a few cases of “creative accounting” would be just the thing we needed to de-stress a little, but it turns out that white collars get pretty filthy, too. Why just recently, Campbell’s fired an executive over an incredibly disparaging audio recording, and Nestlé dismissed their CEO for a little office fling. Those instances sent us down a scandalous little path of big business big-timers caught with their hands in the cookie jars or around the waists of some coworkers on some jumbotrons. Well, one of them at least. Anywho, here are 15 corporate hotshots who got seriously humbled in the boardroom.
Martin Bally’s anti-Campbell’s rant
Former Campbell’s cybersecurity analyst Robert Garza recorded and recently released audio of executive Martin Bally’s disparaging rant. Bally said, “We have s— for f—ing poor people. Who buys our s—? I don’t buy Campbell’s products barely anymore. Bioengineered meat – I don’t wanna eat a piece of chicken that came from a 3-D printer.” He also said, “F—ing Indians don’t know a f—ing thing. They couldn’t think for their f—ing selves.” Campbell’s released a statement and fired Bally.
Laurent Freixe was ousted as CEO of Nestlé
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Nestlé dismissed Freixe in early September 2025 after an internal investigation determined he had an undisclosed romantic relationship with a direct subordinate. The board concluded this breached the company’s Code of Business Conduct and he was removed immediately.
Astronomer CEO Andy Byron resigned after the viral “kiss cam” incident
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On July 16 Byron appeared on the Jumbotron with his arms around Kristin Cabot — Astronomer’s chief people officer — at a Coldplay concert in Boston. Byron resigned from his position as CEO just three days later. Cabot stepped down as well.
Jeffrey Skilling & Kenneth Lay charged in the Enron scandal
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In 2001, Enron’s collapse became one of the most infamous corporate fraud cases in history. CEO Jeffrey Skilling and Chairman Kenneth Lay oversaw accounting deception that hid massive losses through off-books partnerships. Skilling served 12 years in prison, but Lay died before sentencing.
CBS CEO Les Moonves’ sexual misconduct scandal
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In 2018, Moonves was forced out after multiple women publicly accused him of sexual misconduct over decades. Then, in 2022, CBS and Moonves paid $30.5m to compensate the network’s shareholders as part of an insider trading investigation and for concealing the sexual assault allegations against Moonves.
Galleon Group’s insider trading
In 2009, Raj Rajaratnam (the billionaire founder of the Galleon Group hedge fund) was convicted of orchestrating one of the largest insider trading schemes in U.S. history. Using a network of corporate insiders, he traded on confidential information, and received an 11-year prison sentence — one of the harshest ever for insider trading.
Volkswagen’s “Dieselgate”
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In 2015, Oliver Schmidt and other execs admitted to installing “defeat devices” that cheated emissions tests in diesel vehicles. Schmidt, a senior VW manager, received a 7-year sentence in the U.S. The scandal led to billions in fines and a global shift in emissions scrutiny.
Travis Kalanick’s resignation from Uber
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In 2017, Uber’s co-founder and CEO Travis Kalanick resigned under shareholder pressure after reports of a toxic workplace culture and failure to address employees’ complaints of sexual harassment. His personal conduct (including a leaked video showing him berating a driver) contributed to his ousting.
Nissan executive Carlos Ghosn was arrested in Japan
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In 2018, the renowned automotive exec was arrested in Japan on charges of financial misconduct, including underreporting income and misusing company funds. He escaped in a box on a plane to Lebanon before the trial, and currently lives there as a fugitive.
Wells Fargo’s fake accounts
Between 2016 and 2020, Wells Fargo employees opened millions of unauthorized accounts to meet aggressive sales targets. Then CEO John Stumpf was banned from the banking industry and personally fined $17.5 million.
Best Buy CEO’s inappropriate relationship
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In 2012, Best Buy CEO Brian Dunn stepped down after an internal probe revealed he had an inappropriate relationship with a much younger female employee. He even misused company resources to further the relationship. Dunn resigned, and the scandal caused a major shake-up in Best Buy’s leadership structure.
The toxic culture at American Apparel
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In 2014, founder and CEO Dov Charney was removed by the board following multiple allegations of inappropriate sexual behavior and abusive conduct toward employees. Charney was terminated and barred from involvement with the company’s management.
Elizabeth Holmes and Theranos
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In 2018, Elizabeth Holmes & Ramesh “Sunny” Balwani claimed to have revolutionized blood testing, but investigations revealed the faulty tech misled investors and patients. They were each sentenced to over a decade in prison and ordered to pay restitution of more than $452 million.
The embezzlement at Tyco
In 2002, CEO Dennis Kozlowski and CFO Mark Swartz were convicted of looting the company of hundreds of millions of dollars through unauthorized bonuses, stock manipulation, and lavish personal spending disguised as corporate expenses. Kozlowski served 6.5 years in prison. They collectively paid $134 million in restitution to Tyco, and $105 million in fines to the state.
Racist Papa John
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In 2018, Papa John’s founder and chairman John Schnatter resigned after he admitted to using a racial slur during a training call. The board forced him out, his image was erased from branding, and he lost significant corporate control.
BP’s Deepwater Horizon spill
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In 2010, then CEO Tony Hayward’s personal behavior during the Deepwater Horizon spill caused public outrage and internal corporate backlash. He was photographed yachting during the crisis, remarking “I want my life back.” BP removed him as CEO to help rehabilitate the company’s reputation.
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