In Pictures: The 10 greatest betrayals in high tech

Tech-minded backstabbers abound. Don't get caught this Ides of March with your back turned to the wrong vendor, partner, or customer

In Pictures: The 10 greatest betrayals in high tech prev next

Loading...

Tech betrayal No. 3: WorldCom displays no taste for accounting

It was just a little creative accounting. In 2002, WorldCom deliberately overstated its revenue by nearly $4 billion, creating what was then the largest accounting scandal in U.S. history. Along the way the kings of "dark fiber" betrayed employees, customers, creditors, shareholders, and other telecoms before ultimately filing for bankruptcy. After the scandal, CFO Scott Sullivan lost his job, while former CEO Bernie Ebbers (pictured) began serving 25 years for fraud and conspiracy at a Club Fed prison in 2006. Remember when guilty executives actually paid for their crimes? Those were the days.

Prev Next 4/11

Comments on this image

Close

In Pictures: The 10 greatest betrayals in high tech

11 images
Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?