Global Crossing(redirected from Global Crossings Holdings Ltd.)
A telecommunications company that filed for bankruptcy during the Enron scandal of the early 2000s. It had previously inflated its profits by recording as revenue its conduit swaps, a transaction in which telecommunications companies exchange carriers with each other without trading money. In 2005, it was found to have violated several accounting laws and was forced to settle with the SEC. See also: Sarbanes-Oxley Act.
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