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The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time.
Jun 14, 2024 · WorldCom was a leading long-distance provider in the U.S. that collapsed after revealing billions of dollars in fraudulent accounting. Learn how the company inflated its profits, filed for bankruptcy, and faced legal consequences.
Jul 3, 2002 · WorldCom, a telecom firm, revised its financial statements by $3.85 billion in 2002, revealing accounting irregularities and fraud. Experts from Wharton and elsewhere analyze the causes, consequences and lessons of this corporate scandal and how to restore integrity and accountability.
Sep 29, 2021 · WorldCom, one of the world’s biggest telecommunications companies, committed accounting fraud to inflate its earnings by $9 billion and filed for bankruptcy in 2002. The scandal involved senior management, including CEO Ebbers and CFO Sullivan, who were sentenced to prison, and led to investigations, lawsuits and hearings.
Aug 11, 2021 · Learn how WorldCom, a telecom giant, engaged in accounting fraud and faced bankruptcy, SEC charges, and whistleblower lawsuits. Discover how Cynthia Cooper, a WorldCom auditor, exposed the scheme and became a corporate governance reformer.
Jun 27, 2002 · The 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.
Jul 22, 2002 · WorldCom, plagued by the rapid erosion of its profits and an accounting scandal that created billions in illusory earnings, last night submitted the largest bankruptcy filing in United States...
