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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 · 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 ...
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.
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.
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.
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...
