WorldCom News

  • Gambler Linked to Icahn-Mickelson Faced $15 Million Loss

    William “Billy” Walters, the Las Vegas gambler who U.S. authorities are said to be investigating in connection with possible insider trading in 2011 and 2012, was at the time facing a multimillion-dollar debt to the government over a soured golf-course deal, according to court records.

  • Obama Stimulus Aids WorldCom Felon With Health Care Loan

    David Myers was at the epicenter of one of the biggest corporate frauds in U.S. history. Now the former WorldCom Inc. controller is rebuilding his life a decade later with the help of the federal government.

  • Ex-Dewey Executives Charged in Fraud That Destroyed Firm

    Three former executives at Dewey & LeBoeuf LLP, once the No. 3 legal adviser to banks handling merger deals, were charged with a “blatant” $200 million fraud that spurred the largest law firm bankruptcy in history.

  • Corbat Sees No Drawback in Boring Citigroup Up 34%

    The executive suite at Citigroup Inc.’s headquarters in New York where Michael Corbat has his office hasn’t been renovated since its previous occupant, Vikram Pandit, vacated the premises in October 2012.

  • Ex-Dewey Billing Managers to Plead Guilty in Fraud Probe

    Former Dewey & LeBoeuf LLP billing and accounting managers were among seven ex-employees who agreed to plead guilty and cooperate in the probe of a $200 million fraud that spurred the largest law firm bankruptcy in history.

  • Ex-Dewey Executive Canellas Cooperated With Vance Probe

    Former Dewey & LeBoeuf LLP finance director Frank Canellas cooperated with a probe by Manhattan District Attorney Cyrus R. Vance Jr. into a “blatant” $200 million fraud that spurred the largest law firm bankruptcy in history, according to a plea agreement unsealed today.

  • Korean Company Risk of Distress Dwarfs Japan, AlixPartners Says

    South Korean companies are more likely to face financial distress this year than their counterparts in Japan as the won’s strength makes exporters’ goods more expensive, AlixPartners LLP said.

  • Investor Class Actions Seen at Risk in Halliburton Case

    A quarter-century after the U.S. Supreme Court opened the era of class action shareholder litigation, the justices may be poised to shut it down.

  • HP Consultant APCO Built Crisis Business on WorldCom Testimony, Vioxx Suit

    APCO Worldwide, the public relations firm that advised Hewlett-Packard Co. ’s board after accusations of harassment against its chief executive officer, has handled crises from Merck & Co. ’s Vioxx scandal to WorldCom Inc.’s fraud and now is helping Wall Street earn back America’s trust.

  • Dewey & LeBoeuf Case Should Be Mostly Unsealed, D.A. Says

    A criminal case against three former Dewey & LeBoeuf LLP executives should be mostly unsealed, Manhattan District Attorney Cyrus R. Vance Jr. said, a move that may reveal the identities of seven employees who have already pleaded guilty.

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