what was worldcom 
worldcom was an american telecom company at its height worldcom was one of the largest long distance providers in the united states the company is best known for being embroiled in one of the largest accounting scandals in the country which came on the heels of the enron and tyco frauds this came after it was revealed the company cooked its books worldcom was also involved in one of the largest bankruptcies of all time the company came out of bankruptcy rebranded itself and its network assets were sold to verizon understanding worldcomworldcom is now a byword for accounting fraud and a warning to investors that when things seem too good to be true they just might be the company was founded in 1983 as long distance discount service it was established after the breakup of at t by murray waldron william rector early investor bernard ebbers and their business partners the group secured a 650 000 loan which allowed them to buy the technology to route long distance calls since courts ordered at t to lease its phone lines to new companies at cheap rates ebbers who was the company s chief executive officer ceo could offer his customers very low rates this allowed him to build the company into one of america s leading long distance phone companies by acquiring as many as 30 competing telecom companies at the peak of the dotcom bubble worldcom s market capitalization grew to 186 billion 