WorldCom, Inc.

WorldCom, Inc. was a major American telecommunications company that provided voice and data communication services. In the early 2000s, it became infamous for one of the largest accounting scandals in history. Company executives falsely inflated profits by billions of dollars through fraudulent accounting practices, such as manipulating expenses and revenue reports. When the fraud was exposed in 2002, it led to widespread financial loss, criminal charges against top executives, and the company's bankruptcy. The scandal highlighted significant issues in corporate governance and accounting oversight, prompting reforms aimed at increasing transparency and accountability in financial reporting.