Tuesday, Sep. 16, 2008

WorldCom Inc.


$104 billion in pre-filing assets

A month after an accounting scandal made headlines, the telecommunications company, once the second largest long-distance carrier in the U.S., filed for bankruptcy. Several WorldCom executives subsequently pleaded guilty to fraud charges, with CEO Bernard Ebbers sentenced to 25 years in prison. The company emerged from bankruptcy in 2004 as MCI Inc.