We had one like that also during the whole Enron scandal.
My husband worked at TV Guide, and the CEO and CFO cooked the books. The stock went from over $100/share to around $4/share in a matter of weeks. At least the CEO and CFO got caught. I don’t know if they have actually served jail time. It’s in the news occasionally.
Some of my husband’s co-workers got really screwed during that ordeal. They lost their jobs, and couldn’t find other work. Some of them purchased the stock, but didn’t sell it. They owed tons of taxes, but didn’t have the money to pay for it. It was a huge mess.
Used to drive past TV Guide in Radnor every day. Little brick building. Maybe there was more in behind the trees.