Business Ethics Case Studies

The only way that Wells Fargo employees were able to keep their jobs was to meet a quota set by the company. To meet this quota they were required to set up a certain number of new banking and credit card accounts. What statement is false?

• the 5300 employees involved in the scam got a warning but kept their jobs.

• 5300 employees set up fake accounts so they would meet their quota.

• over 1.4 million fake accounts were created generating $2.4 million in fees

• Wells Fargo paid more than $500 million in fines and other costs.

Bernie Madoff convinced wealthy investors to give him large sums of money and promised 8-12% returns a year. He never actually invested the money and kept it for his lavish lifestyle. What was his punishment?

• He received a 150 year jail sentence

• He pleaded guilty and went to jail for 10 years.

• He never went to trial because he returned all of the money

• He did not receive a sentence because he was the former chairman of NASDAQ.

What government agency figured out that Volkswagen was cheating the system with their "diesel dupe" scheme?

• EPA

• FTC

• AFLAC

• SEC

The World Com scandal fraud had a price tag on the fraud of"

• 11 billion dollars

• 11 million dollars

• 111 billion dollars

• 1.1 trillion dollars

Which name does not belong in the World Com Scandal?

• Martha Stewart

• Betty Vinson

• Scott Sullivan

• Bernie Ebbers

Which statement about the Volkswagen scandal is true?

• The companies CEO was fired as a result of the scandal

• The cost to fix the cars involved was 180 million dollars worldwide.

• The EPA knew about the scandal but looked the other way because they were chasing Bernie Madoff at the time/

• The total number of cars with the "diesel dupe" equipment was 11 million in the US alone.

Who was given credit for uncovering and proving the Madoff scam?

• Harry Markapolis.

• Bernie Madoff's son

• Martha Stewart

• A group of people at the SEC

What eventually led to the downfall of Bernie Madoff?

• The Great recession of 2008 where investors asked for their money back.

• Bernie Madoff's wife realized he was involved in the scam and cut a deal with the SEC to protect herself and her sons.

• President Obama was elected and his administration uncovered the scandal.

• The Jewish business owners that Madoff was associated with led the charge to uncover the truth.

Which name is not associated with the Johnson and Johnson Extra Strength Tylenol/Cyanide story from 1982?

• Colleen Goggins

• Mary Kellerman

• James Burke

• An off duty fireman

What was the ultimate result of Johnson and Johnson's Tylenol/Cyanide situation in 1982.

• The CEO of the company faced an ethical dilemma.

• The board of directors of Johnson and Johnson had an ethical lapse.

• The CEO of the company had to make an ethical decision.

• The CEO of the company faced an ethical decision and had an ethical lapse.