A US District court has sentenced former Worldcom executive Buford T Yates to one year in prison for his role in the company's $11 billion fraud.
Former WorldCom chief executive Bernard Ebbers has been sentenced to 25 years in prison for orchestrating a record $11 billion fraud that toppled the telecommunications company he founded.
Former WorldCom chief executive Bernard Ebbers, accused of masterminding a massive accounting fraud that led the telecommunications giant into bankruptcy, was convicted on charges of fraud and conspiracy by a US court.
In one of the largest settlements arising from corporate scandals in the past five years, US-based Citigroup Inc has agreed to pay $2.65 billion to investors who claimed that the bank helped hide huge losses piling up at WorldCom
WorldCom Inc. is close to a settlement with the US Securities and Exchange Commission that would resolve charges it fraudulently misled investors and would require it to pay one of the largest fines ever levied by the agency.
Former WorldCom Inc chief executive Bernad J Ebbers has been indicted on Federal criminal fraud charges in New York for his alleged role in the nation's largest accounting scandal.
Conseco listed 52.2 billion dollars in assets in its latest quarterly report, making it the wealthiest firm to come to the court since Enron Corp and WorldCom Inc.
Indian IT company joins Enron, WorldCom and Societe Generale on list of notorious corporate frauds.
Four leading telecom multi-national companies - AT&T, BT, MCI Worldcom and Equant - may face penal action in India for providing long distance services without having a licence that may have caused revenue loss to the government.
The department of telecom has issued showcause notice to overseas telecom carriers AT&T and MCI Worldcom and network solutions company Equant for allegedly providing end-to-end managed data services without approval.
Immediately after the Enron debacle we found that a lot of US trading companies were badly affected by downgrades. Most of them pulled out of the electricity trading market in the UK. What is left now are the big and original players.
In a society where corruption is endemic and you want to get something done then it is all too tempting to offer a bribe, Swraj Paul said.
Indian business, on quite a different trajectory from its global counterpart, remains relatively insulated from any kind of backlash.
Vinod Kumar, Tata Communication CEO has amazing business strategies to enhance topline.
'Serious crimes of this sort cannot be excused merely because he has a family.' P Rajendran/Rediff.com was in the courtroom last week when Mathew Martoma was sentenced to nine years in prison for insider trading.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances