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Telecom Giant Admits Hiding $3.8 Billion In ExpensesFinance & BusinessOn June 25, 2002 telecom giant WorldCom released a statement showing that an internal audit had uncovered over 3.8 billion dollars in improperly reported and expenses for 2001 and Q1 2002. Expenses had been inappropriately reported and capitol expenditures. In the announcement WorldCom said it had terminated Scott Sullivan as chief financial officer and had also accepted the resignation of David Myers as senior vice president and controller. Posted: 2002-06-26 8:44:28 AM This fact has been viewed 5443 times.
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