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WorldCom CFO Accused of $3.6 Billion Fraud

Posted by ryuzaki0 on from the talking-real-money dept.

winter was among the first to point out that allegations of fraud have led to a massive stock drop at WorldCom. A flurry of stories have popped up on Yahoo!, none of them good news for WorldCom. CFO Scott Sullivan is accused of misstating the company's revenues, specifically its earnings before interest, taxation, depreciation and amortization (aka EBITDA), and the stock has slid more than 50% (as of this writing) in after-hours trading.

2 of 545 comments (clear)

  1. The big question... by kitzilla · · Score: 4, Funny

    ...did Martha Stewart sell her stock in time?

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    This is my post. There are many others like it. If you don't like what you read here, go try one of the others.
  2. Google Sets by jesser · · Score: 5, Funny

    Enron, Worldcom, Microsoft?

    (Discovered by Ksosez on #mozillazine.)

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    The shareholder is always right.