Dros Mci Worldcom Website Form
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People also ask
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Is MCI WorldCom still in business?
WorldCom's financial scandals and bankruptcy led that company to change its name in 2003 to MCI Inc. The MCI name disappeared in January 2006 after the company was bought by Verizon.
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What caused the collapse of WorldCom?
Following Cooper's report, the Securities and Exchange Commission (SEC) launched its own investigation into WorldCom's accounting and found that the company had overstated assets by a staggering $11 billion. At the time, it was the largest corporate accounting fraud case in US history.
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What happened to MCI WorldCom?
WorldCom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed for bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets.
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Did anyone go to jail for WorldCom?
And as a result of the company's actions, Chief Executive Officer Bernard Ebbers was sentenced to 25 years in prison, while the company's chief financial officer, Scott Sullivan, received five years behind bars.
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Does MCI exist anymore?
It is now a division of Verizon Business. MCI was instrumental in legal and regulatory changes that led to the breakup of the monopoly of AT&T Corporation and introduced competition in the telephone industry. It also had an early commercial presence on the Internet.
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