WorldCom uncovers further bogus accounting

Bankrupt telecommunications firm WorldCom said it uncovered $3.3bn dollars (€3.4bn) more in bogus accounting, bringing the total amount of misstated earnings to some $7.1bn dollars (€7.3bn).

WorldCom also warned it may find more accounting problems as it continues an internal investigation.

The additional restatement comes amid a string of accounting scandals that has tarnished some of the largest firms in the US, felling once-mighty companies like Enron and Global Crossing.