WorldCom Scandal

By: Associated Press
By: Associated Press

Fingerpointing at WorldCom. The telecom giant's founder and former CEO says he didn't know that hundreds of millions of dollars were moved as part of nearly four billion dollars in accounting irregularities.

A lawyer for Bernard Ebbers says it was another executive's decision to ''reassign billions of dollars," and Ebbers didn't know about it.

But that other executive, former chief financial officer Scott Sullivan, is telling WorldCom's lawyers that Ebbers did know. And WorldCom is telling that to congressional investigators.

A spokesman for the House committee probing the affair says it's evidence that, "some people at WorldCom knew someone was cooking the books."

Both Sullivan and Ebbers cited their Fifth Amendment right against self-incrimination in refusing to testify before Congress this week. The SEC has filed civil fraud charges against WorldCom.


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