http://www.businessweek.com/stories/1992-08-23/a-scandal-waiting-to-happen
Phar-Mor drug stores initiated a quick growth of stores in very little time. Michael (Mickey) Monus was the founder and president of Phar-Mor drug stores. He established this chain of stores in 1982 with the help of David Shapira, the co-founder. Business was booming, Mr. Monus' credibility increased, and store prices were lower than other grocery and drug stores. Although, with the fame that Michael Monus received, there was trouble in the books. Mr. Shapira turned in Mr. Monus and three other businessmen for a $350 million fraud. Monus left local owners with a $200,000 debt, unpaid bills, and broken promises. This is considered the largest fraud of American corporate history.
