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Confessions from inside history's biggest accounting fraud - the collapse of MCI Worldcom
Equity Press
September 2007
On Sale: September 1, 2007
312 pages
ISBN: 0979755808
EAN: 9780979755804
Hardcover
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Non-Fiction
Walter Pavlo, Jr. was a young MBA rising quickly through the
finance ranks at the nation’s second largest telecom
company. With a beautiful wife, two kids and a promising
career, he epitomized the American dream. Pavlo’s life took
a dark turn when he became a willing participant in the
company’s efforts to hide from investors and potential
acquirers a mountain of bad debt run up by mobsters and
other unsavory customers. Encouraged by higher-ups, Pavlo
became accomplished at accounting gimmickry. Then the jaded
young executive consorted with a colorful scam artist and
others to use some of the same ploys he’d devised for his
employer to enrich himself at its expense. A ruse born of
disillusionment and greed turned into a nightmare for Pavlo
after he was caught and forced to choose--rat on his buddies
or spend decades rotting in prison. His crimes ultimately
cost Pavlo his freedom, family, reputation and self-respect.
Only later did he recognize that his original sins were part
and parcel of the corruption that led to an historic
collapse for his company, his industry and of public
confidence in corporate America. With humor and raw honesty,
Pavlo and award-winning Forbes senior editor Neil Weinberg
use this compelling personal story to portray in intimate
detail the pressures millions of white-collar workers face
every day.
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