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WorldCom scandal - Wikipedia The WorldCom scandal was a major accounting scandal discovered in June 2002 at WorldCom, then the second-largest long-distance telephone company in the United States
WorldCom Scandal: History, Key Players and Discovery Once a telecommunications giant, WorldCom’s meteoric rise to prominence was followed by a catastrophic fall from grace due to one of the largest accounting scandals in history WorldCom, initially known as Long Distance Discount Service (LDDS), was founded in 1983 by businessman Bernard J Ebbers
The WorldCom Scandal (2002) - International Banker 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 prosecution
Fraudulent Accounting and the Downfall of WorldCom 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
The rise and fraud of WorldCom - NBC News 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
WorldCom - Verizon WorldCom was a leading communications company that was acquired by Verizon Communications in January 2006 Known as MCI at the time of the merger, WorldCom’s network assets are now part of Verizon Business WorldCom was originally founded in 1983 as Long Distance Discount Service, Inc
WorldCom scandal | EBSCO Research Starters The WorldCom accounting scandal was ultimately uncovered by a team of WorldCom whistleblowers led by accountant Cynthia Cooper Their secret investigation revealed evidence that ordinary business expenses were being counted as capital expenses, inflating the company’s record of assets