In the late 1990s, the dot-com bubble generated billions in paper wealth and heralded the coming of the Internet age. Then the bubble burst, and revelations emerged that some tech titans were built on phony accounting. Since then, sliminess has oozed out of some of technology’s most stalwart companies. Here are our picks of tech’s biggest disgraces.
10: Savvis — Expense this
This isn’t anywhere near as destructive as most of the events on our list, but it gets a nod anyway for being a mix of pure debauchery and cluelessness.
Robert McCormick, former CEO of IT services company Savvis, resigned in 2005 after he and several associates ran up a $241,000 tab on his company credit card during a single visit to Scores topless bar in New York.
The New York Daily News dubbed him “The Lap Dunce.”
Turns out McCormick’s fall failed as a cautionary tale. John Arnold, cofounder of Intelius, which offers online background checks, engaged in sex acts with strippers from a Seattle-area club but told a grand jury he didn’t. For perjuring himself, Arnold was sentenced last month to spend 45 days in jail and pay a $30,000 fine.
9: AT&T’s black ops
rest here