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Telecom company financial scandal
The WorldCom scandal was a major accounting scandal discovered in June 2002 at WorldCom, then the second-largest long-distance telephone company in the
WorldCom_scandal
American telecommunications company (1983–2006)
MCI, Inc. (formerly WorldCom and MCI WorldCom) was a telecommunications company. For a time, it was the second-largest long-distance telephone company
WorldCom
Scandal arising from the disclosure of financial misdeeds
less than a year earlier. Ultimately, WorldCom admitted to inflating its assets by $11 billion. These scandals reignited the debate over the relative
Accounting_scandal
2001 accounting scandal
made it the largest corporate bankruptcy in U.S. history until the WorldCom scandal the following year. Many executives at Enron were indicted for a variety
Enron_scandal
Canadian-American businessman and fraudster (1941–2020)
and the co-founder and chief executive officer (CEO) of WorldCom. Under his management, WorldCom grew rapidly but collapsed in 2002 amid revelations of
Bernard_Ebbers
1913–2002 American accounting firm
Enron and telecommunications company WorldCom were revealed amid the two high-profile bankruptcies. The scandals were a factor in the enactment of the
Arthur_Andersen
Former office building in Manhattan, New York
went down with the building." Copies of emails in connection with the WorldCom scandal that were later requested by the SEC from Salomon Brothers, a subsidiary
7 World Trade Center (1987–2001)
7_World_Trade_Center_(1987–2001)
Tech stock speculative craze, c. 1995–2003
by several accounting scandals and the resulting bankruptcies, including the Enron scandal in October 2001, the WorldCom scandal in June 2002, and the
Dot-com_bubble
2005 documentary film by Alex Gibney
trials for several of the company's top executives during the ensuing Enron scandal, and contains a section about the involvement of Enron traders in the 2000-01
Enron: The Smartest Guys in the Room
Enron:_The_Smartest_Guys_in_the_Room
Defunct American energy company
surpassed by those of Worldcom during 2002 and Lehman Brothers during 2008), resulting in $11 billion in shareholder losses. As the scandal progressed, Enron's
Enron
Founder of Enron Corporation (1942–2006)
officer and chairman of Enron. He was heavily involved in Enron's accounting scandal that unraveled in 2001 into the largest bankruptcy ever to that date. Lay
Kenneth_Lay
Governor of New York from 2007 to 2008
patronized a prostitution ring. He resigned immediately following the scandal, with the remainder of his term served by David Paterson, his lieutenant
Eliot_Spitzer
American interactive agency
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Razorfish_(company)
Defunct Internet radio company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Broadcast.com
American businessman (born 1966)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
David_Filo
the insolvency or bankruptcy of a major business enterprise. A corporate scandal involves alleged or actual unethical behavior by people acting within or
List of corporate collapses and scandals
List_of_corporate_collapses_and_scandals
Canadian businessman and author (born 1954)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Kevin_O'Leary
American businessman (born 1964)
everything that's happened since their relationship began, including a tabloid scandal and possibly even a hack by foreign operatives". Business Insider. Archived
Jeff_Bezos
1998–2003 American electronics company founded by the founders of Palm, Inc
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Handspring,_Inc.
1963 corporate fraud
The salad oil scandal was an American corporate scandal in 1963 that caused more than $180 million ($1.89 billion in 2025) in losses to corporations.
Salad_oil_scandal
American venture capitalist and Wall Street securities analyst
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Mary_Meeker
American public relations firm
from a four-year-long dispute with his former son-in-law Rakhat Aliyev. WorldCom hired APCO Worldwide to handle its political PR surrounding the media frenzy
APCO_(company)
Former consumer services company
Enron scandal and other more recent frauds. Affinion Group, formerly Trilegiant (spun out from successor Cendant) WorldCom scandal Enron scandal Sarbanes–Oxley
CUC_International
2002 U.S. law regarding corporate accounting
reaction to a number of major corporate and accounting scandals, including Enron and WorldCom. The sections of the bill cover responsibilities of a public
Sarbanes–Oxley_Act
Criminal trial of former Enron Corporation executives
Lake in the Southern District of Texas in 2006 in response to the Enron scandal. The trial began on January 30, 2006. Opening arguments The defense argued
Trial of Kenneth Lay and Jeffrey Skilling
Trial_of_Kenneth_Lay_and_Jeffrey_Skilling
American enterprise software company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
TIBCO_Software
American telecommunications company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Airspan_Networks
Musicblog
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
OmniSky
Investment scandal discovered in 2008
The Madoff investment scandal, sometimes known as Madoffgate, was a financial scandal discovered in late 2008. In December of that year, Bernie Madoff
Madoff_investment_scandal
American web portal
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Yahoo
American businesswoman and whistleblower
by Time magazine, alongside two other whistleblowers, Cynthia Cooper of WorldCom and Coleen Rowley of the FBI. Watkins was born in Tomball, Texas. Watkins
Sherron_Watkins
Topics referred to by the same term
refer to: Scott D. Sullivan, accountant and executive involved in the WorldCom scandal Scott Sullivan (baseball) (born 1971), baseball pitcher Scott Sullivan
Scott_Sullivan
American educational software company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
The_Learning_Company
American financier and con artist (1938–2021)
$11 billion accounting fraud masterminded by Bernard Ebbers in the WorldCom scandal. Madoff's right-hand man and financial chief, Frank DiPascali, pleaded
Bernie_Madoff
Internet portal
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Excite_(web_portal)
American provider of eCommerce services
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
PFSweb
British eCommerce business
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Boo.com
American company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
InfoSpace
One of the first Internet service providers in the United States
Digex. In September 2000, WorldCom acquired Intermedia Communications and gained a majority stake in Digex. In 2003, WorldCom acquired the remainder of
Digex
American company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Geeknet
U.S. Internet service provider
and disappears. 2002 – WorldCom files for Chapter 11 bankruptcy protection as a result of a massive $11 billion accounting scandal. 2003 – The UUNET brand
UUNET
Discontinued wireless consumer electronic device
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Modo_(wireless_device)
American online grocery business (1996–2001)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Webvan
American journalist
won the New York Press Club award for coverage of Wall Street research scandals. Gasparino then moved to cable business network CNBC where he reported
Charlie_Gasparino
Defunct consumer electronic company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Scout_Electromedia
Book by Charles Gasparino
Press Club award for coverage of this and related Wall Street research scandals. His WSJ articles prompted then New York State attorney general Eliot Spitzer
Blood_on_the_Street
American multinational technology conglomerate
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Amazon_(company)
Bookstore chain
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Books-A-Million
2005 book
Enron scandal. In Conspiracy of Fools, Eichenwald, who covered the 2001 collapse of Enron for the New York Times, tells the story of the scandal. Enron's
Conspiracy_of_Fools
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
VerticalNet
American computer scientist and entrepreneur
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
James_H._Clark
American businessman, investor and journalist
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Henry_Blodget
American businessman, journalist and 25th SEC chairman
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Arthur_Levitt
Search engine and web portal
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Lycos
American e-commerce company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Commerce_One
American multinational financial technology company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
PayPal
Defunct Italian bank (1896–1982)
Robert's book on Clearstream's scandal, Revelation$, claims he "was fired because (he) knew too much about the Ambrosiano scandal. When Soisson died, the Ambrosiano
Banco_Ambrosiano
American businessman (born c. 1960)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Josh_Harris_(entrepreneur)
Former American technology company
who notified consumers, causing the breach to escalate into a full-blown scandal. Many credit cards were cancelled. The company later discovered that credit
Egghead_Software
U.S. telecommunications company (1997–2011)
in history and its executives were accused of covering up an accounting scandal. On October 3, 2011, Global Crossing was acquired by Level 3 Communications
Global_Crossing
American programmer and entrepreneur (born 1968)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Jerry_Yang
IT entrepreneur
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Stephan_Paternot
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Divine,_Inc.
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
CyberRebate
Former internet payment service
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Flooz.com
American fraudster
a board member of WorldCom, who was convicted as part of WorldCom's $11 billion accounting fraud, at the time the largest scandal of its kind in U.S
Scott_D._Sullivan
Former online retailer and delivery service
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Kozmo.com
Telecommunications carrier
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
360networks
American multinational e-commerce corporation
2020). "Inside eBay's Cockroach Cult: The Ghastly Story of a Stalking Scandal". The New York Times. Archived from the original on September 26, 2020
EBay
American technology company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Redback_Networks
Calendar year
scandals in 2002. These included the WorldCom scandal that led to what was then the largest bankruptcy in American history, and accounting scandals emerging
2002
Stock market crash in 2001
internet and the introduction of wireless technology. Companies such as WorldCom, Global Crossing, and Lucent Technologies had achieved enormous market
Telecoms_crash
Software company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Interactive_Intelligence
Former chairman and chief executive of the New York Stock Exchange
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Richard_Grasso
Term in accounting regarding the ethical climate of an organization
major corporate accounting scandals such as those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom, when the concept was strongly
Tone_at_the_top
world were still shaken by the 2001 Enron scandal and the 2002 WorldCom scandal. Because of these scandals, there was concern among many that major corporations
In re Walt Disney Co. Derivative Litigation
In_re_Walt_Disney_Co._Derivative_Litigation
American businessperson
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Jeff_Hawkins
American-based technology company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Network_Solutions
Subsidiary of Google that provides Internet ad services
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
DoubleClick
American computer services company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Netscape
Defunct international data communications network
network, effectively shutting it down. Worldcom executives were involved in a financial scandal. In June 2002, Worldcom admitted to nearly 4 billion dollars
Tymnet
Group of former PayPal employees
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
PayPal_Mafia
American entrepreneur and business executive (born 1965)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Michael_J._Saylor
American computer networking company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Akamai_Technologies
American businessman
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Howard_Jonas
Computer network hardware company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Alteon_WebSystems
Web portal and internet company, subsidiary of Telefônica Brasil
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Terra_(company)
2001 American documentary film by Wonsuk Chin
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
E-Dreams
Online supermarket business
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
HomeGrocer
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Tradex_Technologies
American manufacturer of integrated circuits
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
PLX_Technology
Services company dealing with digital communications
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Whittman-Hart
US company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
AboveNet
Multinational corporation software company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Forcepoint
Computer appliance company (1996–2000)
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Cobalt_Networks
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Think_Tools
Former American online retailer
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Pets.com
Storage area network company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Gadzoox
2001 documentary film
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Startup.com
Israeli telecommunication company
Corporation WebChat Broadcasting System Websense Webvan WorldCom World Online Yahoo! History Enron scandal Irrational exuberance Sarbanes–Oxley Act Telecoms
Radvision
travel, tourism, insurance
WORLDCOM SCANDAL
WORLDCOM SCANDAL
Boy/Male
Irish
Scandal.
Boy/Male
Irish
Scandal.
Male
Irish
Irish name SCANLAN means "scandal."
Male
Irish
Variant spelling of Irish Scanlan, SCANLON means "scandal."
Boy/Male
Irish
Scandal.
WORLDCOM SCANDAL
WORLDCOM SCANDAL
WORLDCOM SCANDAL
WORLDCOM SCANDAL
WORLDCOM SCANDAL
WORLDCOM SCANDAL
WORLDCOM SCANDAL
travel, tourism, insurance