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  1. 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.

  2. Jun 14, 2024 · Several key individuals and entities were involved in the WorldCom scandal. Some of the most notable names include its CEO Bernie Ebbers, CFO Scott Sullivan, and the company's auditing firm ...

  3. Aug 11, 2021 · The 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.

  4. Jul 3, 2002 · The Securities and Exchange Commission has charged WorldCom with fraud. As the prospect of bankruptcy seems near-certain, Wall Street has punished WorldCom’s stock, which was already in the pits even before the announcement; it closed at 10 cents on July 2.

  5. Sep 29, 2021 · WorldCom’s accounting scandal is a riches-to-rags story. Until 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 ...

  6. www.sec.gov › enforcement-litigation › litigation-releasesSEC.gov | WorldCom Inc.

    Securities and Exchange Commission v. WorldCom Inc., Civil Action No. 02-CV-4963 (SDNY) (JSR) The Securities and Exchange Commission today filed a proposed settlement in its civil action against WorldCom Inc. in federal district court in the Southern District of New York.

  7. 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...

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