OK, it's not a scandal (yet).

My buddy David Smith, who does really interesting research over at the University of Virginia (see here), pointed me to this article about Nevada's corporate climate, especially the shell-friendly regulations (here).  And I quote:

At the same time, Nevada is attracting an outsize number of companies with shaky financial reporting, according to a study published in March by Michal Barzuza and David C. Smith of the University of Virginia.

Want to read that research?  Click here.