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- WorldCom was a telecommunications company that was established in 1983 by Murray Waldron, William Rector, and Bernard Ebbers. The company provided discount long-distance services to its customers and pursued an aggressive acquisition strategy that propelled it to the largest company of its kind in the United States.
www.investopedia.com/terms/w/worldcom.aspThe Rise and Fall of WorldCom: Story of a Scandal - Investopedia
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Jun 14, 2024 · WorldCom was a U.S.-based telecom company that underwent one of the largest bankruptcies in U.S. history following a massive spate criminal of accounting fraud.
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time.
Sep 9, 2003 · The real story of WorldCom begins and ends in small-town Mississippi, where in little more than a decade a gym teacher named Bernie Ebbers took a tiny company and turned it into a telecom...
Aug 19, 2005 · When WorldCom, the telecommunications giant, failed and was put into bankruptcy, the U.S. witnessed one of the largest accounting frauds in history. Former CEO, Bernie Ebbers, 63, was convicted of orchestrating this US$11 billion accounting fraud and was sentenced to 25 years in prison on July 13, 2005.
Internal auditors eventually uncovered the $11 billion fraud triggering America’s biggest bankruptcy. WorldCom was a product of deregulation of the telecoms industry; in less than 20 years it had become America's 2nd largest long-distance carrier and the world's largest Internet carrier.
Jun 26, 2002 · Unlike Enron, it has a huge real-world business with thousands of customers being supplied with genuine services. But the weight of its huge debts, run up as it bought up rivals right, left and...
Mar 15, 2024 · WorldCom, initially known as Long Distance Discount Service (LDDS), was founded in 1983 by businessman Bernard J. Ebbers. The company began as a small provider of long-distance telephone services.
