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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1204 |
Essay's paper body
At the beginning of the fraud was Chief Executive Officer and founder Bernard Ebbers. In addition to instructing others to doctor the financial situation, he also borrowed almost four hundred million dollars from the company to pay the margin call on his personal stock. WorldCom’s high level management intentionally falsified financial reports and declared fraudulent stock data to the United States Securities and Exchange Commission...
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WorldCom’s high level management intentionally falsified financial reports and declared fraudulent stock data to the United States Securities and Exchange Commission. These acts were a violation of the Securities Act of 1993 which objectives are that investors obtain accurate reports of a company’s commerce to prevent misleading securities sales...
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