Worldcom Scandal

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Finance

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11 Terms

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Worldcom Scandal

Telecommunications company

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Worldcom Scandal

Lack or oversight, ignoring of accounting principles, and committing fraud

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Arthur Adersen

He ignored memos from WorldCom executives informing company was inflating profits by improperly accounting fro expenses

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Fraudulent inflation of the company’s asset by

11billion

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Worldcom Scandal

Classifies expense as capital investment between 1999-2002

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Bernie Ebbers

25 years of prison

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Bernie ebbers

To pay 500 million in cash

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Bernie ebbers

10million shares of MCI

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Scott Sullivan

5 years in prison

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Scott sullivan

Testified against ebbers

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Cynthia cooper

Former employee exposing coporate fraud