WorldCom, Inc.

E216124

WorldCom, Inc. was a major American telecommunications company that became infamous for one of the largest accounting fraud scandals in U.S. corporate history, leading to its bankruptcy and rebranding as MCI Inc.

All labels observed (3)

Label Occurrences
WorldCom 10
WorldCom, Inc. canonical 2
MCI WorldCom 1

How this entity was disambiguated

Statements (51)

Predicate Object
instanceOf public company
telecommunications company
abbreviation LDDS
acquired ANS Communications
CompuServe Network Services
MCI Communications
linked to: MCI Inc.

MFS Communications Company, Inc.
UUNET Technologies, Inc.
acquiredBy Verizon Communications
linked to: Verizon
acquisitionCompleted 2006
announcedAccountingIrregularities June 2002
bankruptcyJurisdiction United States
bankruptcyType Chapter 11
category defunct telecommunications company of the United States
country United States
describedAs one of the largest accounting frauds in U.S. history
one of the largest corporate bankruptcies in U.S. history
emergedFromBankruptcy 2004
facedAllegation fraudulent accounting practices
improper capitalization of expenses
overstating earnings
filedForBankruptcy July 21, 2002
foundedBy Bernard Ebbers
Murray Waldron
William Rector
headquartersLocation Clinton, Mississippi
impact led to passage and enforcement emphasis of the Sarbanes–Oxley Act
inception 1983
industry internet services
long-distance telephone services
telecommunications
keyPerson Bernard Ebbers
Scott Sullivan
legalOutcomeForExecutive Bernard Ebbers convicted of fraud and conspiracy
linked to: Bernard Ebbers

Scott Sullivan pleaded guilty to securities fraud
locatedInTimeZone Central Time Zone
notableFor accounting fraud scandal
corporate bankruptcy
originalName Long Distance Discount Service, Inc.
positionHeld Bernard Ebbers – Chief Executive Officer
linked to: Bernard Ebbers

Scott Sullivan – Chief Financial Officer
linked to: Scott Sullivan
regulatoryAction investigated by the U.S. Securities and Exchange Commission
subject to criminal investigation by the U.S. Department of Justice
renamedAs MCI Inc.
WorldCom
linked to: WorldCom, Inc.
reorganizedAs MCI Inc.
restatedEarnings over 11 billion US dollars
stockExchangeListing NASDAQ
successor MCI Inc.
tickerSymbol WCOM
ultimateFate acquired by Verizon Communications

How these facts were elicited

Referenced by (13)

Full triples — surface form annotated when it differs from this entity's canonical label.

MCI Inc. formerName WorldCom, Inc.
MCI Inc. predecessor WorldCom
linked to: WorldCom, Inc.
Michael Capellas employer WorldCom
linked to: WorldCom, Inc.
Arthur Andersen notableClient WorldCom
linked to: WorldCom, Inc.
WorldCom accounting scandal mainCompanyInvolved WorldCom
linked to: WorldCom, Inc.
WorldCom accounting scandal announcedBy WorldCom
linked to: WorldCom, Inc.
WorldCom, Inc. renamedAs WorldCom
linked to: WorldCom, Inc.
Bernard Ebbers employer WorldCom
linked to: WorldCom, Inc.
Bernard Ebbers coFounded WorldCom
linked to: WorldCom, Inc.
MCI Inc. formerName MCI WorldCom
subject linked to: MCIP
linked to: WorldCom, Inc.
MCI Inc. formerName WorldCom, Inc.
subject linked to: MCIP
WCOM associatedWith WorldCom
linked to: WorldCom, Inc.
MCI Inc. predecessor WorldCom
subject linked to: WCOM
linked to: WorldCom, Inc.