Fact check
Is it true: WorldCom accounting fraud (2002)?
Yes — this is confirmed.
Confirmed by SEC enforcement, criminal convictions, and the company's own restatements. Bernie Ebbers convicted (25yr, released Feb 2020 on health grounds, died 5 weeks later). Scott Sullivan pleaded guilty; David Myers pleaded guilty. $750M SEC settlement. WorldCom bankruptcy Jul 2002 ($107B assets) was largest US bankruptcy filing at the time. Reorganised as MCI; acquired by Verizon Jan 2006.
The claim
WorldCom Inc., the second-largest long-distance telecom company in the United States, was revealed in June 2002 to have executed an $11 billion accounting fraud — the largest in US history at the time
Key evidence
Cynthia Cooper's internal audit team discovered the fraud
Ebbers released on health grounds Feb 2020; died 5 weeks later
Conspirafy steelmans each claim, then follows the evidence. How we reach a verdict · Check another claim