Finally, this blog will focus on the pharmaceutical industry. In 1992, Phar-Mor was a successful pharmaceutical business with over 25,000 employees working in over 300 stores. However, that same year, Phar-Mor’s top employees running the business were charged with embezzlement. The owners changed data and even fooled auditors who looked over the financial statements. The two men most responsible for the scandal occurring was the COO, Michael Monus, and the CFO, Patrick Finn. Both of these men, along with a few others, reaped the consequences for embezzlement of the company.
Embezzlement in companies is not rare. In an article by Patricia Schaefer on businessknowhow.com, “There’s an old saying that’s long been accepted in fraud prevention circles called the 10-10-80 rule: 10 percent of people will never steal no matter what, 10 percent of people will steal at any opportunity, and the other 80 percent of employees will go either way depending on how they rationalize a particular opportunity.”
Click here to see the article http://www.businessknowhow.com/manage/employee-theft.htm
For anyone, having good ethics is an important part of life. For future business employees, ethical issues could come on a daily basis. When dealing with money, sometimes people let greed take over. As seen in this blog posting and the other postings, these business leaders did not use good ethical judgments. Instead, they decided to steal from their companies and their employees. We must be aware of ethics because major consequences can result when using poor judgment.
Thank you for all of the feedback I have received. If you would like to see any more scandals that occurred throughout the 20 and 21 century, visit http://top-10-list.org/2009/07/30/ .
Ethical Issues in Industries 
I feel the pharmaceutical industry in particular is more susceptible to frauds like this one. Their margins are so great on their hit drugs, and their patents guarantee these margins for extended periods of time. I feel the temptation has to be significant when that much money is dangled in front of top management.
It is really interesting to see the business fraud that occurs in different professions. Pharmaceutical fraud is such a pressing problem that is often ignored as long as healthcare is provided. I loved your topic for the blog and thought that each topic every week really hit a different area of business fraud. One thing I would look into are unexposed scams. Enron was obviously a huge scandal but it would be really interesting to see which events were never exposed. Overall I’d give your blog an A!