Summary of Extraordinary Circumstances

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Rating

8 Overall

7 Applicability

8 Innovation

7 Style


Recommendation

Cynthia Cooper, ex-WorldCom VP and former head of its internal auditing department, is a genuine hero. Despite her supervisors’ pressure, browbeating and subterfuge, Cooper uncovered and exposed the massive WorldCom corporate fraud. When her information became public, it set off a cataclysmic chain of events: WorldCom exploded like dynamite. It filed for bankruptcy. Investors lost billions on the suddenly worthless stock. CEO Bernie Ebbers went to jail for 25 years. Other executives received prison sentences. Being a whistleblower is painfully difficult, but Cooper stuck to her guns, as she relates in this personal and sometimes even chatty saga. getAbstract recommends her instructive, inspiring book as a gripping corporate story and a cautionary tale.

In this summary, you will learn

  • How WorldCom grew so fast;
  • How fraud brought it down; and
  • How internal auditor Cynthia Cooper and her team uncovered the fraud.
 

About the Author

Cynthia Cooper is the former head of internal auditing at WorldCom.

 

Summary

WorldCom Blows Up
In June 2002, WorldCom announced that it was in serious financial trouble. The enormous telecommunications company had $38 billion in annual revenues, operations in 65 countries and 100,000 employees, but it was imploding due to the largest corporate fraud in history...

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