We can all agree corruption is terrible as it causes so much trouble and is seriously unethical. Sadly, in America, some industries are more accepting of it than others. Let’s look at ten of the most corrupt industries in America. These sectors have seen it all—including backdoor deals & outright fraud.
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Financial Services
The financial services industry has seen its fair share of scandals and the 2008 crisis was the star of the show. Besides the subprime mortgage debacle that caused a recession, Bernie Madoff’s Ponzi scheme was a giant game of financial hot potato—and it cost investors billions. When the professionals play fast & loose with the rules, everyone else suffers.
Healthcare
In the healthcare industry, some players have been playing a dangerous game of Monopoly—but with real drugs & real lives. The opioid crisis has largely been fueled by companies like Purdue Pharma pushing their pills & doctors overprescribing opioids. Greed can be deadly and this is the clearest example of CEOs prioritizing profits over people.
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Pharmaceuticals
The pharmaceutical industry is just as guilty. In 2015, Martin Shkreli raised the price of Daraprim, an antiparasitic medicine, by over 5,000%—what previously cost $13.50 per pill was now $750.00. No wonder Shkreli became the face of pharma greed. It just goes to show how high prices can hold health hostage.
Construction
The construction industry is also quite corrupt as it involves people bribing officials to get good contracts as well as cutting corners on safety. Remember the Boston Big Dig? That project dug a hole in taxpayers’ pockets thanks to cost overruns & dodgy dealings. Integrity should never take a backseat.
Energy
Things get rather heated in the energy industry in more ways than one. Companies like Enron played with the market and this caused one of the biggest corporate meltdowns in history. Unfortunately, it doesn’t seem like we’ve actually learned our lesson from this incident. We have to keep a closer eye on these energy giants.
Defense
The defense industry is supposed to protect us yet sometimes, it’s busy protecting its own interests. The Fat Leonard scandal revealed a network of Navy officials who were more interested in luxury stays & bribes than national security. The scandal exposed a systemic issue whereby the lines between duty and personal gain had become completely blurred.
Real Estate
Real estate can also be quite dirty, as there are plenty of examples of money laundering and zoning manipulation. Don’t forget plain old bribery! Projects like Trump SoHo have shown how tangled property deals can get, which is no surprise since this industry attracts big money. With that comes the temptation to bend the rules.
Sports
The 2015 FIFA scandal exposed a culture of corruption in the sports industry that reached the highest levels. The case involved corruption of the highest order, including racketeering and money laundering. Several people were also convicted of wiretapping. Football might be a beautiful game but it isn’t immune to ugly behavior.
Education
The college admissions scandal involved wealthy parents cheating the system to get their kids into elite schools. In total, the parents paid around $25 million to William Rick Singer who committed fraud by changing their children’s test scores. One of the parents involved in the scandal was Oscar-nominated actress, Felicity Huffman, showing just how far the corruption went.
Technology
The tech industry also has its own dark corners and one of the most famous examples was the Facebook-Cambridge Analytica scandal. It showed how companies could weaponize personal data to sway elections. Unfortunately, this was one of many tech scandals that have come to light. There are undoubtedly plenty more just waiting to be revealed.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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