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WorldCom to Settle SEC Fraud Charges

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WorldCom to Settle SEC Fraud Charges

Business

WorldCom to Settle SEC Fraud Charges

WorldCom to Settle SEC Fraud Charges

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  • <iframe src="https://www.npr.org/player/embed/1268579/1268580" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

WorldCom agrees to pay a $500 million fine to settle accounting fraud charges brought by the Securities and Exchange Commission. The money will go to investors who lost out when the high-flying telecom company slid into bankruptcy. WorldCom has admitted to falsifying its books by more than $11 billion. NPR's Scott Horsley reports.