Feng Yu called Kirilenko and Fu Rongqi to inform them that they could short sell Worldcom's shares. Pen? Interesting? Pavilion wWw. ｂiquge。 ｉｎfo

When Ralph uses "Business Week" to expose WorldCom's fake account scandal, WorldCom will be completely finished like Enron.

Three days later, a new issue of BusinessWeek was released.

The CEO of an investment institution on Wall Street is sitting in his chair after work, grabbing up new business newspapers and business magazines to keep up with the latest business information.

He suddenly saw the cover of "BusinessWeek", which was an Asian person.

This intrigued him a lot, so he opened the issue of Business Week first, which saved him from huge losses.

Oh, this is Masao Kameda, the president of Fengyu Holding Group, Fengyu Holding Group, isn't it rumored to be Feng's company. Hey, this Kameda Masao is still the first person at the helm of the kind of company to go public, and that kind of company can be operated and listed, he is really a genius.

Wait, what do you say in the end, Kameda Masao said, WorldCom's accounts were falsified?

He hurriedly flipped back, and sure enough, there was an article proving that WorldCom was fraudulent, and the data on it clearly showed that WorldCom had at least $4 billion in accounts that were problematic, and that was $4 billion!

He immediately grabbed the phone on the table: "WorldCom shares, all the shares are thrown away." Don't care how much you lose, right now, right away! ”

At the same time, many people who got the news are also selling Worldcom's stock, think about Enron's experience, and wait for WorldCom to turn over? Then wait for WorldCom stock to become waste paper!

The securities regulator in the United States has actually noticed Worldcom, and the company's debt ratio is too high. The legend of small fish eating big fish has been staged again and again, relying on loans and the issuance of new shares, and now it is no longer a small horse-drawn cart, but a small horse-drawn train!

Today they also noticed an article published in Business Week, which said that WorldCom had made a huge loan of $366 million to its CEO Ebos, but Ebos had no collateral, and that the loan, which was clearly problematic, was in Ebos' pocket.

At the end of last year and the beginning of this year, a large amount of engineering expenses for the expansion of WorldCom's telecommunications system were not recorded as normal costs, but were treated as capital expenditures, and such an accounting skill brought WorldCom a huge profit of nearly $3 billion.

And last year's profit of nearly one billion dollars and the profit of about $300 million in the first quarter of this year are also nothing, and they actually lost a lot.

Not to mention anything else, a large number of loans, so that they need to repay the interest every day is not a small amount, not to mention that their business is average, where does the profit come from?

If there were any profits, would they apply for $2.5 billion in loans from banks like 25 again?

If other magazines broke the news, others would still wonder, is there something wrong with this? But if it was "Business Week" that broke out, everyone instinctively believed it.

What's more, that is not evidence of evidence: WorldCom's audit company, like Enron, is also Anxinda.

In short, these two fake account scandals have brought almost annihilation to Anxinda. Before, they were the world's top audit firms, but now, no one dares to hire them.

If Anxinda is invited, then don't others suspect that their company is also making false accounts? Even if you prove that you don't, others may not believe it.

The day after the scandal broke out in Business Week, the Securities and Exchange Commission announced an investigation into the past mergers of WorldCom and a $366 million loan to Ebos.

And they immediately sued WorldCom for civil fraud, and those false accounts have to be investigated in detail, maybe there is more to it.

And Xiao Bushi, who is visiting abroad, is furious, this is the world's largest Internet provider, the second largest long-distance telephone company in the United States, it has developed by fraud, so what will others think of their country?

As soon as he took office, the Internet bubble broke out, causing the country's economy to recession, which itself was anxious. As a result, the previous president's economy was good, which was completely an illusion, and it was all hyped up by these unknown companies.

If it weren't for companies like Enron and WorldCom, would there be such a big bubble in the Internet? Is he so embarrassed now? In order to develop the economy, looking for cooperation with countries everywhere, this president is too aggrieved!

The credit rating of WorldCom was quickly adjusted to the lowest, and this level said that the loan has been made, and it has been said that this company is going to be finished!

At the same time, 25 banks that had originally planned to lend $2.5 billion to WorldCom also jointly accused WorldCom of fraud, and even some banks that had not yet recovered their loans also joined in, believing that WorldCom was defrauding them of loans by inflating their profits.

Worldcom's stock price plunged faster than Enron. It also shows that investors have been rumored about things like fraudulent accounts.

However, in a few days, several audit companies investigated again, and WorldCom Company had two more wrong accounts, and the evidence presented by Kameda Masao before was all proved to be true, and the account problems of WorldCom Company have increased to nearly $8 billion!

Worldcom's stock price has plummeted rapidly, from $70 billion some time ago to $20 billion, and it is still falling rapidly.

Everyone formed a concentrated sell-off, and many people's stocks could not be sold at all, but the stock price of WorldCom kept falling because of this.

WorldCom quickly replaced a new CEO, but to no avail. Although the new CEO claims that they have negotiated about $2 billion in financing and will continue to provide high-quality services to customers, no one believes it at all.

Now that the penalty decision faced by WorldCom has not yet come out, WorldCom's stock price has fallen all the way and has already fallen below the issue price.

Even lower than the true value of Worldcom, after all, WorldCom still has a lot of fixed assets, the value of these assets, how to value more than 20 billion US dollars, unfortunately, WorldCom has higher liabilities, these fixed assets are not enough to cover the debt.

As a result, WorldCom filed for bankruptcy protection, which was faster than Enron.

Feng Yu and they bought Worldcom's shares in time to deliver and close their positions, and this time, they made a small profit. If it weren't for Worldcom's own high debt ratio, they would have earned more.

This time, Masao Kameda, Ralph and others also made a fortune. At the same time, some shareholders of "Business Week" also made a profit. It was also their joining that allowed Feng Yu and them to fail to short the WorldCom stocks.

But it doesn't matter, "Business Week" sent an invitation to Feng Yu, inviting Feng Yu to become his independent director, and even promised to sell part of his equity to Feng Yu.

To put it bluntly, those shareholders all want to have a relationship with Feng Yu, hoping that next time there is such a profitable business, Feng Yu can bring them!

What Feng Yu didn't expect was that the scope of the scandal of fake accounts began to increase.

…… (To be continued.) )