The history of finance is riddled riddled with tales of ambition gone awry, leading to some of the most significant scandals that have rocked the industry's foundations.

As FTX founder Sam Bankman-Fried gears up for his court testimony, let's trace back to some monumental controversies that have left lasting impacts.

• The collapse of Lehman Brothers stands as a grim reminder of the late 2000s financial crisis.

This once-majestic financial services firm, with over 150 years of history, crumbled, marking the largest bankruptcy filing in U.S. history.

• Elizabeth Holmes' Theranos scandal is another stark example of how lofty promises can lead to significant downfalls.

Holmes was accused of misleading investors with exaggerated claims about her blood testing technology.

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Leading up to the present, the cryptocurrency realm has seen its share of upheavals.

• FTX, founded by Bankman-Fried, was once a titan in the industry, valued at a staggering $32 billion.

Yet a series of missteps, including a failed deal with Binance and massive fund withdrawals, led to significant challenges.

Investors and customers lost billions due to the platform's downfall.

These scandals serve as cautionary tales, emphasizing the importance of transparency, due diligence and robust regulatory oversight in the ever-evolving world of finance.

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