- Fatal-shooting victim ID'd; uncle said he tried to break up fight (9/29/16)29
- Driver charged with manslaughter in crash that killed 2 (9/27/16)
- Sister: Shooting victim died a hero (9/30/16)5
- Perryville couple arrested on felony drug charges after sting operation (9/29/16)
- Perryville High principal on leave; no reason given (9/28/16)9
- Video and evidence largely confirm trooper's claims in April traffic stop shooting (9/23/16)9
- Perryville man arrested for alleged patronizing prostitution, harassment (9/23/16)6
- Animal-rescue group receives grant from rock star for spay, neuter assistance (9/28/16)1
- Cape man may lose eye after shovel beating, police say (9/25/16)2
- Monia pleads guilty to 9 counts of financial exploitation of elderly; dealings with murderer Joseph clarified (9/28/16)11
WorldCom charges expand
WASHINGTON -- The government on Tuesday expanded its civil fraud charges against WorldCom and the company raised its estimate of inflated earnings to more than $9 billion in one of the most stunning accounting scandals of the year.
The Securities and Exchange Commission announced that it had broadened the scope of its civil fraud charges, originally filed against the telecom company in June, to include an additional charge and to allege that WorldCom misled investors starting at least as early as 1999 through the first quarter of this year.
WorldCom is in settlement talks with the SEC.
The nation's second-largest long-distance carrier said it told the SEC during those discussions that it expects an additional earnings restatement that could bring the total hole in its books to more than $9 billion.
WorldCom announced $4 billion in financial misstatements in late June. That estimate was later raised by the company to around $7 billion.
The company said Tuesday that the additional restatements "have no impact on its ability to continue to provide service" or to emerge from bankruptcy protection, which it expects to do in mid-2003.