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Bookmark or Share- Fraudulent Accounting and the Downfall of WorldComThe SEC charged WorldCom with civil fraud and reached a $2.25 billion settlement. Several executives and the CEO were indicted on charges of securities fraud, conspiracy, and filing false documents with regulators.
- MCI Inc. - WikipediaMCI, Inc. (formerly WorldCom and MCI WorldCom) was a telecommunications company. For a time, it was the second-largest long-distance telephone company in the United States, after AT&T.
- WorldCom, Inc. - SEC.govThe Securities and Exchange Commission filed a civil action yesterday in federal district court in New York charging major global communications provider WorldCom, Inc. with a massive accounting fraud totaling more than $3.8 billion.
- The WorldCom Scandal (2002) - International BankerUntil its demise in mid-2002, WorldCom was regarded as the second-largest long-distance US telecommunications company. Although changing market conditions contributed to its profitability slide, its executives’ deliberate “cooking” of its books led to bankruptcy and prosecution.
- The Rise and Fall of WorldCom: Story of a Scandal - InvestopediaWorldCom was a U.S.-based telecom company that underwent one of the largest bankruptcies in U.S. history following a massive spate criminal of accounting fraud.
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