How Did The Watergate Scandal

The Watergate scandal was the first event that sparked the issue of bribery. It all became public when on June 17, 1972, burglars were taken into custody in the Watergate building, inside the office of the Democratic National Committee. The burglars were connected to President Richard Nixon’s reelection campaign, and they had been caught while trying to take secret documents and wiretap cellular devices. People still don’t know if Nixon was involved or knew of the dilemma before it was brought up. As soon as the issue was being raised, Nixon tried to cover it up by raising “hush money” for the prowlers, trying to stop the Federal Bureau of Investigation (FBI) from inspecting the crime, trying to destroy any kind of evidence and also getting rid of any staff members that weren’t cooperating with him. In August 1974, Nixon finally had resigned. Immediately after, General Ford pardoned Nixon for all the crimes he supposedly could have committed while in office. Congress then recognized that these kind of actions were relating to problems of possible significance to public investors, which might have involved violations of the federal securities laws (History.com Staff, 2009).
The staff discovered forgeries of corporate financial records, designed to hide the source and application of corporate funds misused for illegal purposes, as well as secret funds that were being given out to certain people. The funds were being used for different reasons, sometimes resulting in questionable or illegal foreign payments. There was serious doubt on the reliability of the corporate records and books which are the base of the disclosure system recognized by the federal securities