Worldcom Scandal
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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
Flashcards (28)