WorldCom Says New Irregularities Total $3.3 Billion

WorldCom

A report by CNBC also on Thursday said WorldCom used an accounting trick in which most of the money was reversed from reserves for bad debts into operating income.

The $3.3 billion brings the WorldCom accounting scandal to more than $7 billion, including the $3.85 billion that was hidden as capital expenditures in 2001 and first-quarter 2002.

The carrier also said it expects to write off $50.6 billion in assets and goodwill when restated financials for 2002 results are released.