Corporate Scandals - WorldCom

WorldCom was one of the big success stories of the 1990s. It was a symbol aggressive capitalism. Founded by Bernie Ebbers, one of the most aggressive acquirer during the US mergers and acquisitions boom of the 1990s. WorldCom's asset value had soared to $180bn before the US capital market started witnessing a downtrend.
WorldCom admitted in March 2002 that it will have to restate its financial results to account for billions of dollars in improper bookkeeping after an internal audit showed

WorldCom, Bernie Ebbers, WorldCom's asset value, MCI (formerly WorldCom), chief financial officer Scott Sullivan, ex-controller David Myers, misrepresented worldcom, generally accepted accounting principles worldcom, worldcom gaap, worldcom internal audit,