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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 10, 2002
Page
22
WorldCom disclosed an additional 3.3 billion in bogus accounting, on top of 3.85 billion disclosed in June, with CEO John Sidgmore under pressure from creditors and observers. The firm, filing for Chapter 11, may write off 50.6 billion in goodwill and intangibles while considering a possible independent trustee.
WorldCom Inc announced on Thursday night it has identified an additional 3.3 billion in improper accounting, bringing the total to about 7.1 billion. The company said it is being investigated by the SEC and may file for bankruptcy protection.
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