WorldCom was a telecommunications company based in the United States, founded in 1983. It grew rapidly through a series of mergers and acquisitions, becoming one of the largest long-distance phone service providers in the country. In 2002, WorldCom became infamous for one of the largest accounting scandals in U.S. history, revealing that it had inflated its assets by approximately $11 billion. This led to bankruptcy, significant job losses, and legal repercussions for executives involved, marking a pivotal moment in corporate governance and accounting practices.