According to the WSJ (and I don't subscribe, so the link just gives the front page where I found the item), quoting: "MCI RESTATED results for 2000 and 2001, reducing pretax income by $74.4 billion. Fraud appeared to account for about $10.6 billion of the adjustment. Oklahoma dropped its criminal case against the company in exchange for cooperation in prosecuting former executives."
So, they brought in $74B less than they had said. And $10B was due to lies. I guess the rest was just, um, stupidity? The TYCO scandal was only like $7B, wasn't it?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment