SMC-1026CorporateCase file
WorldCom: an $11 billion accounting fraud and a record bankruptcy
WorldCom, a US telecommunications company, revealed in June 2002 that an internal audit had found $3.8 billion in accounting errors. Much of the fraud involved booking expenses as long-term capital spending, and the misstatements eventually reached $11 billion. WorldCom filed…
Reported: WorldCom
- Reported losses
- $11B
- People affected
- 0 affected
- Comments