How Auditor Found $4bn Black Hole
guardian.co.uk
"The financial scandal that has enveloped WorldCom, one of America's largest phone companies, was unearthed by an employee running a spot check on the Mississippi-based company's books." By Julian Borger and Richard Wray. [Guardian] (June 28, 2002)
'World-Con': Massive Accounting Fraud Hits Wall Street Again
plastic.com
"The gargantuan telecommunications firm WorldCom announced on Tuesday that it is restating its financial statements for 2001 and first quarter 2002 because of incorrect capital expenditure accounting." News and reader discussion. [Plastic] (June 26, 2002)
WorldCom Facing Charges of Fraud; Bush Vows Inquiry
nytimes.com
"The Securities and Exchange Commission filed fraud charges against WorldCom yesterday and President Bush vowed to 'hold people accountable' for the bookkeeping scandal at the company, the nation's second-largest long-distance provider and a major carrier of Internet traffic." By Simon Romero. [New York Times] [Free subscription required.] (June 27, 2002)
Gloom at WorldCom Centre
news.bbc.co.uk
"WorldCom's employees are feeling betrayed and bitter." By Nick Childs. [BBC News]
SEC Charges WorldCom’s Former CFO with Financial Fraud
sec.gov
The commission charged Scott D. Sullivan, WorldCom's former Chief Financial Officer, with altering WorldCom's books and making false and misleading statements about the health of the company. [SEC] (March 2, 2004)
MCI Paralyzes US Reg Bureau
theregister.co.uk
The Register falls victim to MCI "random billing". By Andrew Orlowski. [Register] (May 22, 2002)- WorldCom: What the US Papers Say
guardian.co.uk
"Ros Taylor takes a look at how the American media are reacting to the latest corporate scandal to rock the financial markets." Press review. [Guardian] (June 27, 2002) - WorldCom Formally Charged with Fraud
guardian.co.uk
"WorldCom today moved closer to bankruptcy as US regulators formally charged the telecoms giant with fraud by inflating its profits through improper accounting." By Mark Tran. [Guardian] (June 27, 2002) - "You Have No Idea the Evil We Do" - MCI Insiders Break Their Silence
theregister.co.uk
Stories of "modern call center hell" submitted by MCI staffers. By Andrew Orlowski. [Register] (June 26, 2002) - Who Watches the Watchers?
news.bbc.co.uk
"US regulators are scrambling to line up new accounting rules in the wake of the Enron and WorldCom affairs, but are they doing enough?" Analysis by Jeremy Scott-Joynt. [BBC News] - Spotlight on: SEC v. WorldCom
sec.gov
Provides links to SEC and court documents regarding the WorldCom case. - WorldCom 'Must File Report by Monday'
guardian.co.uk
"WorldCom, the disgraced telecommunications giant, has today been told it has until Monday to explain to regulators how it inflated profits by $4bn (£2.5bn)." By Mark Tran. [Guardian] (June 28, 2002) - Internet Fears over WorldCom Scandal
news.bbc.co.uk
"With 40% of internet traffic using WorldCom's network, worries are spreading about what effect a collapse might have." [BBC News] - Bernie Ebbers pleads not guilty to fraud
news.bbc.co.uk
The former chief executive of Worldcom is charged with fraud, conspiracy and making false statements regarding the company's finances.[BBC] (February 3, 2004) - SEC Statement Concerning WorldCom
sec.gov
"The WorldCom disclosures confirm that accounting improprieties of unprecedented magnitude have been committed in the public markets." (June 26, 2002) - WorldCom Staff Brace for Cuts
news.bbc.co.uk
"The US telecoms giant is set to give details of 17,000 job cuts as Congress and officials start the investigation into the firm's accounting fraud." [BBC News]
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Kansas City Star
Federal regulators are unlikely to approve the $129 billion Sprint- MCI WorldCom merger, sources say, because they view it as a severe blow to long distance ...
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