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WorldCom Fraud

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WorldCom Fraud

WorldCom Fraud

WorldCom Fraud

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  • <iframe src="https://www.npr.org/player/embed/1145622/145622" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Scott Horsley reports that WorldCom has fired its chief financial officer and revealed an accounting discrepancy of nearly $4 billion in its financial statements for the last five quarters. WorldCom may be forced into bankruptcy as a result. That's more bad news for the already staggering telecom industry, and it is likely to add to investor doubts about the accuracy of corporate financial reports.