MCI WorldCom

Sites 15

• SEC Statement Concerning WorldCom "The WorldCom disclosures confirm that accounting improprieties of unprecedented magnitude have been committed in the public markets."
• WorldCom Facing Charges of Fraud; Bush Vows Inquiry "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.]
• Gloom at WorldCom Centre "WorldCom's employees are feeling betrayed and bitter." By Nick Childs. [BBC News]
• Who Watches the Watchers? "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]
• Internet Fears over WorldCom Scandal "With 40% of internet traffic using WorldCom's network, worries are spreading about what effect a collapse might have." [BBC News]
• WorldCom Staff Brace for Cuts "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]
• Spotlight on: SEC v. WorldCom Provides links to SEC and court documents regarding the WorldCom case.
• SEC Charges WorldCom’s Former CFO with Financial Fraud 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]
• Bernie Ebbers pleads not guilty to fraud The former chief executive of Worldcom is charged with fraud, conspiracy and making false statements regarding the company's finances.[BBC]
• MCI Paralyzes US Reg Bureau The Register falls victim to MCI "random billing". By Andrew Orlowski. [Register]
• "You Have No Idea the Evil We Do" - MCI Insiders Break Their Silence Stories of "modern call center hell" submitted by MCI staffers. By Andrew Orlowski. [Register]
• WorldCom Formally Charged with Fraud "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]
• WorldCom: What the US Papers Say "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]
• How Auditor Found $4bn Black Hole "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]
• WorldCom 'Must File Report by Monday' "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]