what happened to worldcom 
worldcom was a telecommunications company that provided discount long distance services to its customers the company was embroiled in one of the largest accounting scandals in the united states which led to an equally large bankruptcy filing the company used fraudulent accounting practices to cover up its losses by making itself look more profitable than it was several individuals were concerned about fraudulent financial transactions and reported the inconsistencies to authorities its bankruptcy helped the company restructure rebranding itself as mci this new entity was sold to verizon in 2006 who was involved in the worldcom scandal several key individuals and entities were involved in the worldcom scandal some of the most notable names include its ceo bernie ebbers cfo scott sullivan and the company s auditing firm arthur andersen wall street analyst jack grubman also played a role in providing the telecom company with positive ratings cynthia cooper was a key player in bringing attention to the company s financial inconsistencies together with auditor gene morse cooper investigated and reported worldcom s questionable accounting practices she was named a person of the year by time in 2002 