From: "Geo" 

"Gary Britt"  wrote in message
news:447bb9fa$1{at}w3.nls.net...
> Enron, Worldcom, Adelphia (didn't have falsified books just top corporate
> offices that forgot they couldn't treat the company as their own private
> venture AFTER they took it public), a couple others, and that's really it
> George.

Read.

http://www.mindfully.org/Industry/WorldCom-Another-$3_8B9aug02.htm

WorldCom Inc.'s internal auditors have uncovered an additional $3.8 billion
in improper accounting, deepening the company's already severe financial
crisis and doubling the amount of its known accounting errors to more than
$7.6 billion over the past two years.

WorldCom blamed its latest problems on how its executives treated so-called
reserve accounts that are commonly used to cover potential losses. The
company's internal auditors determined that WorldCom executives improperly
manipulated these accounts to dramatically inflate revenue during 1999,
2000 and 2001.

The second-largest long-distance company and parent of MCI Group, WorldCom
already said it would restate earnings for all of 2001 and the first
quarter of this year. It now says it must issue revised financial
statements for 2000 and 1999 as well. The errors revealed Thursday will
reduce 2000 pretax profit alone by more than $3.26 billion.

Geo.

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