MCI To Pay $100 M In Worldcom Taxes
An AP newswire story on Advanced IP Pipeline reveals that:
MCI Inc. will pay $100 million in cash to cover back taxes that its predecessor WorldCom Inc. owed Mississippi, state Attorney General Jim Hood announced Monday.
The telecommunications company also will turn over WorldCom's former headquarters building in downtown Jackson to the state as part of the settlement, Hood said. The building has not been appraised, he said.
WorldCom collapsed in 2002 amid revelations of an $11 billion accounting fraud to inflate earnings and hide expenses.
posted by Fergie @ 5/09/2005 11:31:00 AM
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