The SEC is also seeking monetary penalties against WorldCom.
It was also in the news on July 15, 2002 that WorldCom will be taken to the court by 25 of its 27 banks in an attempt to recover a US $2.65 billion unsecured loan they provided in May. The 25 lenders asked the New York Supreme Court for a temporary restraining order to stop WorldCom from using the cash. The lenders have also filed a lawsuit against WorldCom.
In addition, it was on the news on August 1, 2002 that two of WorldCom's top financial managers, Scott Sullivan, former chief financial officer, and Davis Myers, former controller, are expected to be charged by federal prosecutors for their roles in the company's accounting fraud. Their charges were the conspiracy to commit securities fraud and made false filings with the U.S. Securities and Exchange Commission.
It was in the news on September 4, 2002 that government plans to add additional charges and possibly new defendants to its case against the officials behind WorldCom Inc.'s collapse. Sullivan and Myers and also Yates, who was the former director of general accounting, are accused of helping WorldCom hide billions in expenses to create the illusion of profitability. Several WorldCom executives not indicated but named in court papers by prosecutors as co-conspirators are on the verge of pleading guilty and are cooperating with the government's investigation.
On June 26th 2002, SEC filled civil fraud charges against WorldCom because WorldCom pumped up their earnings by $3 billion dollars in 2001 and $797 million in the first quarter of 2002. According to WorldCom's internal audit had revealed that Sullivan (WorldCom's former CFO) had improperly accounted for network maintenance as a capital investment, allowing WorldCom to sweep expenses off its balance sheets.
Five WorldCom executives are accused of being co-conspirators in the accounting scandal, the biggest in U.
But from 180 to 476 Rome decreased. ... He was the third best emperor in Rome's history. ... There were many economic problems in Rome. ... As the two other sources of income began to disappear, the Rome government raised the taxes for the people of Rome. ... Soon these people became Rome's enemies. ...
The military of Rome could not be matched. ... Rome had a strong and steady government. ... The geography of Rome, led to easy expansion and control. ... Rome had almost free use, no risk trade through out these waters, and having ports on every point in Rome allowed for easy trade directly to the capital. ... In conclusion, Rome's military, government, and geography were key to the success of Rome. ...
Greeks influenced Rome's architecture. ... Romulus and Remus were the founders of Rome. ... Rome had a right angle street plan. ... Rome invented concrete. ... Rainwater in Rome was not wasted. ...
"In order to control Sicily, Rome would have to win battles at sea; up to this point, Rome had no working navy. ... Rome managed to win supremacy of the seas, despite having many of their ships destroyed by storms- Rome had yet to figure out where to harbor ships."" ... Rome took advantage of this, and invaded the island. ... He tried to incite revolt among the tribes of Italy, but most feared Rome's wrath should Carthage lose, and they remained with Rome for the most part. ... Instead, he marches on Rome. ...
Rome's location was favorable from a geographical point of view. ... Because Rome was built on the famous seven hills, it was easily defended. ... Early Rome The twin brothers Romulus and Remus in 753 B.C.E founded Rome, and archaeologists have founded that by the eighth century B.C.E there was a settlement consisting of huts on the tops of Rome's Hills. ... Rome had been under the control of seven kings and that two of the last three kings had been Etruscans, a people who were located north of Rome in Etruria. ... By 509 B.C.E., a new Rome had emerged. ...
But from 180 to 476 Rome decreased. ... He was the third best emperor in Rome's history. ... There were many economic problems in Rome. ... As the two other sources of income began to disappear, the Rome government raised the taxes for the people of Rome. ... Soon these people became Rome's enemies. ...
The fall of Rome The fall of Rome wasn't something that happened over night. ... Also, all of Rome did not disintegrate. ... There is no single reason for Rome's decline. ... They were no longer the patriots the mighty Rome deserved. ... Slowly but surely Rome deteriorated, and melted away into the grave....
ROMAN TIMES As my family has the line of ancestors that have continually fought in the military of Rome, I have watched the constant decline of this once great military power. ... There is no willingness to be the great power that Rome once was. There is also a lack of loyalty to this great government of Rome. ... These mercenaries not only could care less about fighting for Rome, but they would even think it better if Rome lost because they were once enemies of the empire themselves. The people of Rome need to do some thinking and figure out what is really important in their lives as ...
The seemingly unstoppable Roman Empire was bound to fall after the many aspects that made Rome such a dominant empire started to fade away. Rome was the center of the world and the thought that such a worldwide power could decline was unheard of. ... Every decision that Rome made had a vast affect on city itself and the rest of the world. ... With the right leadership all of the disastrous decisions could have been prevented and the reign of Rome could have been prolonged long after its fall in 476 AD. ---- In conclusion, the Roman Empire declined based upon the same factors that had caused it...
9/25 The Fall Of Rome Rome was a great country in Italy. ... Rome had many monuments that stood for Rome's power and dignity such as temples, stadiums, and victory arches. ... The Roman Empires military was made up of many mercenaries that had lack of loyalty to Rome. ... The taxes of Rome were getting to high. ... The fall of Rome was a slow process of changes in life. ...