WorldCom

WorldCom was a major telecommunications company in the late 1990s and early 2000s, best known for its rapid growth and eventual bankruptcy in 2002. It became infamous for one of the largest accounting scandals in U.S. history, where it inflated its earnings by billions of dollars through fraudulent accounting practices. This deception misled investors and regulators about the company's financial health. When the scandal was uncovered, WorldCom filed for bankruptcy, leading to significant losses for shareholders and resulting in legal repercussions for executives. The incident led to reforms in corporate governance and accounting practices.