Rackets created by accountant with company fraudsters (11)

I believe the answer is:

cacophonies

I'm a little stuck... Click here to teach me more about this clue!

'rackets' is the definition.
The definition and answer can be both related to natural events as well as being plural nouns.
Maybe they are linked in a way I don't understand?

'accountant with company fraudsters' is the wordplay.
'accountant' becomes 'CA' (abbreviation for chartered accountant).
'with' is a charade indicator (letters next to each other).
'company' becomes 'co' (abbreviation).
'fraudsters' becomes 'phonies' (I can't explain this - if you can you should give a lot more credence to this answer).
'ca'+'co'+'phonies'='CACOPHONIES'

'created by' is the link.

Can you help me to learn more?

I've seen this clue in The Times.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.