The WorldCom Scandal - The Full Story | Lies, Expenses, and Accounting | History in the Dark

The fall of WorldCom resulted in the largest bankruptcy in American history at that time, just a year after Enron which held that title. WorldCom's bankruptcy was oddly similar in terms of what the company was trying to do: inflate their stock price. Though their method for doing so was different and much simpler.

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[tonyplaysthemambo]

As the daughter of a CPA, you never want an accountant or auditor to leave you on read. It probably means you're going to jail.

[MN-zihb]

Credit to the Audit team for holding their ground to get to the truth.

[SunnySky-]

That audit team is the dream team i love that she left him unanswered.

[tgamron]

I used to work for WorldCon. I was there during the bankruptcy. What a mess.

[toribug]

Got ‘algorithm-ed’ the Radio Shack video over the long weekend and I’ve been making my way through the rest. Went ahead and subbed, good work

[TheGs_]

I’d never in my life expect too hear Darkness say “that’s pretty sus”, nor I’d expect him to have a family guy clip/meme in his video to use as an example

I love it

[truthwithes]

Internal team was awesome. Cooper was like hell no not on my watch. She wasn't going down.

[concernedcitizen]

Towards the end of that corp drama, I caught them double billing me.

[Billblom]

And you can't miss the rail connection with one of the biggies: Sprint. Formed when Southern Pacific's signal system had excess capacity due to use of Fiber, rather than old style copper.... It was named "Sprint" to imply Fast, and folk Southern Pacifc into the

[michaelsullivan]

You should do an analysis of Global Crossing & Gary Winnick.

I had the displeasure of being a cog in that machine.

[ethancampbell]

Loved the video! Hope you can afford to upgrade the microphone quality soon! It’s not terrible but I think the video itself was really put together well and the increased quality of the microphone would put this video and the others over the top!

[alexhajnal]

Yes, quite impressive, the fraud, the determined investigator, and the video.
On a related note, you might be interested in looking in to Nick Leeson and the downfall of Barings Bank.

[ad]

My husband worked at the MCI World Com data center in Napa California. When EDS bought them out one of the things that they found during the audit was people had excessive amounts of comp time. There was one guy that my husband worked with who was having an affair with a woman from HR and she had logged nearly a year of comp time for him in their payroll system. Of course it all came out during the EDS audit and they were both fired.

[Straswa]

Great work Darkness. Glad to hear the Audit team held their ground and brought the wrong-doing to light.

[ALCO-C-fan]

Founded in 1985. Like ENRON. What a curse...

[ALCO-C-fan]

3.8 billion DOLLARS?!?!?!

You could as well restore all Y6b's with that!!!

[tonycrabtree]

The prepaid capacity was writing off of income from long distance packages as a cost, but they also captured it as income.

[bhermsworld]

Wow really digging this channel 🔥 great vids 💯. You got a new fan for sure 😊

[Grnfinger]

James Garner, I remember him pitching for MCI back in the day. ahh nostalgia.

[dcooper]

Castle Bank & Trust in the Bahamas was the classic offshore bank account scam, losing many people - including noteworthy celebrities - a lot of money.