Worldcom

WorldCom CEO Bernard Ebbers Sentenced to 25 Years in Prison

2005-07-13 00:00:00 +0000 UTC | Importance: 10/10

On July 13, 2005, former WorldCom CEO Bernard Ebbers was sentenced to 25 years in federal prison for orchestrating the largest corporate accounting fraud in American history. The sentence, handed down by U.S. District Judge Barbara Jones in Manhattan, represented one of the harshest penalties ever …

Bernard Ebbers Department of Justice corporate-fraud worldcom criminal-prosecution securities-fraud corporate-accountability

WorldCom Announces $3.8 Billion Accounting Fraud Discovery

2002-06-25 00:00:00 +0000 UTC | Importance: 10/10

On June 25, 2002, WorldCom, the second-largest telecommunications company in the United States, announced it would restate its financial statements after discovering $3.8 billion in fraudulent accounting entries. The company admitted that “certain transfers” from line cost expenses to …

Bernard Ebbers Cynthia Cooper Scott Sullivan WorldCom corporate-fraud worldcom accounting-fraud securities-fraud white-collar-crime