Chapter 706

fall!

fall!

Keep falling!

Since the WorldCom scandal came to light, the 100 billion yuan company, which has always existed as a typical industry giant, has fallen to the bottom, its market value has been shrinking, and its share price has fallen to a fairy stock.

The market value is less than 500 million US dollars, which is very sad!

But is that the end?

Of course not!

"At 8 am today, the federal securities and Exchange Commission formally filed a lawsuit with Wilson District Court of Mississippi, launching a number of complaints against WorldCom for misrepresentation of profits, malpractice and commercial fraud," the New York Times said. It is said that the amount involved exceeds 10 billion US dollars! "

"Can WorldCom stick to it? The answer is - no! "

"Today, the two houses of Congress launched a formal discussion on the WorldCom incident and effectively reached an agreement on accountability. It can be predicted that WorldCom is not far away from bankruptcy," the Washington Post said in an article

Mississippi, Chicago, Boston evening, West Coast Finance

For a moment, the media in the United States, whether it's social news, financial news, or even entertainment tabloids, are frantically tracking reports. No matter how loud the content is, as long as they can win people's pay, they can do anything!

No one is better than them!

All right~

The Golden Dawn Entertainment Group under Zhuke's name has not lost money in recent days.

WorldCom headquarters.

Dana Shaw Lewis, the current chairman of the board of directors, was sitting in the office with luxurious decoration. At the moment, her face turned pale and she kept muttering to herself: "I'm a big fool!"

feel oneself highly flattered?

be in high and vigorous spirits?

Everything, now all gone with the wind, with the collapse of WorldCom and dissipated!

Bang!

A loud noise came, and the door of the office was directly knocked open!

——Shareholder Pemberley!

With a ferocious face, he yelled at Dinah Shaw Lewis: "asshole! It's all because of you asshole! You ruined the whole company

"No! I won't allow you to say that

Hearing this, Dana Shaw Lewis stood up and growled, "it's not me who destroyed the company, it's the damn Bernard Ebers! I've only been chairman of the board for a few days

"It's you," he roared! Would our company have been destroyed if you hadn't taken Ebers out of office and checked the company's accounts? You are the one who destroyed the company because of your stupid operation

Enron, an energy giant;

Global Telecommunications Corporation;

The collapse of these two enterprises, the scandal also broke out because of accounting problems, but was exposed because of the intervention of external personnel.

But... What about WorldCom?

The reason why it collapsed in a short period of time is because of Dana Shaw Lewis's stupid operation of "self destruction of the city wall". Otherwise WorldCom would get the chance to move around, and it would not collapse so quickly.

Dana Shaw Lewis and his shareholder, Pemberley, were once the closest comrades in arms!

But now?

They tore their faces!

Scold?

Ha ha, two people fight directly!

What's more, shareholders Farrell Danli, CEO sammae and others, who arrived here for the first time after being summoned, were also frantically fighting.

Two days later

The Securities Regulatory Commission announced: "in 2001, chief financial officer Sullivan ordered the Comptroller General Myers and the director of accounting department yetes to reduce (credit) the line cost of the third and fourth quarters by $828 million and $407 million respectively, and debited the provision items such as deferred tax, bad debt provision and accrued expenses by the same amount, To keep the balance of borrowing and lending. "

"In 2000, the same fraud was also found, which made WorldCom's pre tax profits reported in the third and fourth quarters of 2000 falsely increase by $828 million and $407 million respectively."

"We found that the fictitious revenue of WorldCom reached more than $9 billion between 1999 and 2001."

"By the middle of 2002, WorldCom's total assets had been inflated by about $11 billion."

What a hammer!

As soon as the evidence came out, the major shareholders, such as WorldCom, who originally intended to be firm, were completely desperate.

The total market value of WorldCom, let alone 500 million US dollars, is only 360 million US dollars now, completely dead ball!

Is this feast of capital partition really over?

Of course not!

......

Wall Street, gale capital.

"Celebrate

"Cheers

CEO anty cherop looked around and said, "in just a few months, we have conquered Andersen accounting firm and smashed WorldCom, a hundred billion giant. Our recorded amount exceeds US $1.35 billion!"

The voice just dropped.

Suddenly, the scene rang out a burst of crazy shouts and cheers.

Ms. clarey, chief data analyst, Torr Tassos, vice president, and baronte, senior partner... One of them is one, which one is not hot blooded?!

Ms. clarey waved her fist: "this WorldCom event, we may not make the most money, but I'm sure that the top five with the highest income must have us!"

"Of course!"

Torr Tassos, the vice president, said: "you know, a few months ago, we were sinking. On the contrary, the major investment banks on Wall Street were staring at the bankruptcy of global telecom, where did they have so much time to run WorldCom. This time, we can be said to have taken the lead, occupying the right time, place and population. If we don't make a lot of money, are we still elites? "

$1.35 billion in revenue!

Such a huge amount of income is an enviable existence in the whole financial sector, but even so, it is not completely satisfactory.

Andersen;

WorldCom;

Although the two companies are completely out of business, the large enterprises connected with them are also the targets of gale capital.

Xerox:

It's the largest copier manufacturer in the world!

In recent days, it has been disclosed that it falsely reported its operating revenue from 1997 to 2001, with an amount of US $6.4 billion, far exceeding the figure estimated by the settlement agreement reached between the CSRC and the company in April this year;

Merck:

It is the world's third largest pharmaceutical manufacturer and one of the U.S. pharmaceutical giants.

The company was also accused of making a false profit of US $12.4 billion in the past three years for using improper financial means to increase profits.

Johnson:

Not to mention the world's largest pharmaceutical giant.

Johnson & Johnson was investigated by the federal government for "serious violations in the pharmaceutical process, deliberate concealment of accidents, unauthorized changes in manufacturing process and ingredients, and production of drugs with serious defects".

Quester:

It's the fourth largest telecom operator in the United States!

Quist communications also reported suspected fraud scandal. The company is under investigation by judicial authorities for falsely reporting $1.4 billion in turnover and revising its performance report. It is reported that the company's huge debt has reached 26.6 billion US dollars.

Because of the collapse of Andersen and WorldCom, more than 50 large enterprises were directly involved. Xerox, Merck, Johnson & Johnson, Quist Telecom and other companies were randomly selected, which one was not a big company with a market value of more than 10 billion or more than 100 billion.

Fire at the gate of the city will bring disaster to the fish in the pond!

Now they are losing a lot!

"The first watch" is presented.