WorldCom's Sullivan, Myers Arrested
By TSC Staff
08/01/2002 10:10 AM EDT
Two former financial officials at WorldCom turned themselves in to authorities Thursday to face a series of charges for their roles in the accounting scandal that led to the company's bankruptcy last month.
Scott Sullivan, WorldCom's former chief financial officer, and David Myers, the company's former controller, were being held at a Manhattan courthouse. Both Sullivan and Myers could have their first court appearance later in the day. Authorities are expected to charge the men with securities, wire and mail fraud.
In June, WorldCom said it improperly accounted for about $3.8 billion in expenses and inflated its profits over a five-quarter period that began in 2000. The Securities and Exchange Commission has filed fraud charges against WorldCom as part of its investigation of the Clinton, Miss., telco, and Congress is also probing the company.
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