WorldCom materially overstated its reported income by approximately $9 billion through improper accounting from 1999 through the first quarter of 2002.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 8: THE SHIELD OF SCREWTAPE The Naughty Bill

"WorldCom materially overstated its reported income by approximately $9 billion through improper accounting from 1999 through the first quarter of 2002."

The SEC documented approximately $9 billion in overstated income, including improper reserve releases and the capitalization of operating expenses, making WorldCom a major fraud case within the telecom collapse.

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Source title Complaint: SEC v. WorldCom, Inc.

Source authors U.S. Securities and Exchange Commission

Source year 2002

Confidence high

Importance high