Stolen Without a Gun: Confessions from Inside History's Biggest Accounting Fraud : the Collapse of MCI WorldcomWalter 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. |
From inside the book
Results 1-3 of 14
Page 134
... Rapid Advance was their high - grade heroin . To get Rapid Advance off the ground , MCI Marketing and Man- atee each chipped in $ 60,000 and hired Atlanta ad agency Adair Greene . " It came up with a Rapid Advance logo showing a green ...
... Rapid Advance was their high - grade heroin . To get Rapid Advance off the ground , MCI Marketing and Man- atee each chipped in $ 60,000 and hired Atlanta ad agency Adair Greene . " It came up with a Rapid Advance logo showing a green ...
Page 135
... Rapid Advance ever went south . On the cover page he wrote , " This is a great opportunity for us to get out of the business of being the ' Bank ' and be assured of pre- payment . " / 12 Pavlo also sent Legal a list of the computer ...
... Rapid Advance ever went south . On the cover page he wrote , " This is a great opportunity for us to get out of the business of being the ' Bank ' and be assured of pre- payment . " / 12 Pavlo also sent Legal a list of the computer ...
Page 136
... Rapid Advance rollout Pavlo would be hosting on stage the next day.15 III The ballroom of the Palm Springs Marriott was packed with about 200 MCI vice presidents , directors , sales reps and carrier custom- ers , plus Manatee's Mark ...
... Rapid Advance rollout Pavlo would be hosting on stage the next day.15 III The ballroom of the Palm Springs Marriott was packed with about 200 MCI vice presidents , directors , sales reps and carrier custom- ers , plus Manatee's Mark ...
Contents
About the Authors | xiii |
Acknowledgments | xv |
Foreword | xix |
Copyright | |
32 other sections not shown
Common terms and phrases
accounts already arrived asked Atlanta bad debt banks began Benveniste bills boss boys called Carrier Carrier Finance cash Cayman clients collect Communications Corporation customers deal deposition dollars face feeling felt figured Finance Fuck getting give going gonna guys hand Harold he'd head Hennessy Hilby hundred It's keep knew letter look Management Manatee Mann Mann's McCumber MCI's McLain mean meeting million months Morris move never offer okay Orion owed paid Pavlo payments play prison problem pulled received resellers Rhoda Sales Services shit signed sounded started story Street sure talk Tel-Central telecom Telecommunications tell thing thought told took trying turned Wally Walt Wanserski week What's Wilkie WorldCom