Search results
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.
Aug 29, 2023 · WorldCom 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.
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.
Sep 9, 2003 · In a new documentary, CNBC examines how Bernie Ebbers built WorldCom into a telecom giant that had competitors scrambling but ultimately recorded the nation’s biggest accounting fraud.
Sep 29, 2021 · On June 25, 2002, WorldCom disclosed to the U.S. Securities and Exchange Commission (SEC) and the public that for 2001 and the first quarter of 2002, it had determined that certain transfers amounting to $3.852 billion from “line cost” expenses to asset accounts were not made in accordance with generally accepted accounting principles (GAAP).
Mar 15, 2005 · Bernard Ebbers, the former chief executive of WorldCom Inc., on Tuesday was found guilty of fraud, conspiracy and filing false documents related to the $11 billion accounting scandal at the...
Feb 3, 2020 · Former WorldCom CEO Bernard Ebbers, the "telecom cowboy" who spent 13 years in federal prison for his involvement in a notorious $11 billion accounting scandal, died Sunday. He was 78.
