Scandals That Shook the World: 18 Stories That Changed Everything

The LIBOR (London Interbank Offered Rate) Scandal, which "dwarfs by orders of magnitude any financial scam in the history of markets", may have cost governments and investors $176 billion. 

During the Black Sox Scandal, 8 members of the Chicago White Sox were accused of intentionally losing the 1919 World Series against the Cincinnati Reds in exchange for money from the Jewish mob. The scandal led to the appointment of the first Commissioner of baseball.

Franklin D. Roosevelt as Assistant Secretary of the Navy signed off on what would be known as the Newport sex scandal. In an attempt to out gays in the Navy, sailors chosen for the sting operation were instructed by their superiors to engage in sex with targeted gay Naval personnel.

During James Monroe's presidency, there was a small scandal when 1,200 bottles of Burgundy and Champagne were charged to an account that Congress had earmarked for furniture.

The Duplessis Orphans were children who were victimized in a mid-20th century scandal. The Quebec government and Roman Catholic Church falsely certified over approximately 20,000 orphans as mentally ill and committed them to mental institutions.

In the 1960's Salad Oil Scandal, an exporter said he was shipping tankers full of salad oil, but inspectors only sampled the oil on top. In fact, beneath the top layer, it was water. Upon being discovered, it caused a notable market disruption in the mid-'60s, almost claiming American Express.

In the Microsoft Tunisia Scandal, MS bribed the Government of Tunisia in return for buying 12,000 licensed Microsoft software and turned around a government that was adopting open source practices for over 5 years.

In 1889, the Cleveland Street scandal exposed that a homosexual male brothel in London was frequented by prominent members of the Victorian aristocracy, like Lord Arthur Somerset, equerry to the Prince of Wales. Allegations were also made against Prince Albert Victor, 2nd-in-line to the throne.