Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: maceng2 who wrote (189748)	8/28/2002 6:23:27 AM
From: maceng2	Read Replies (1) of 436258

...would result in substantial prison time. WorldCom ex-CFO Sullivan faces grand jury charge over accounting fraud- report Federal prosecutors plan to seek a grand jury indictment against WorldCom Inc's former chief finance officer Scott Sullivan as early as this week in connection with the 7.2 billion accounting fraud at the company, people familiar with the matter were quoted as telling the Wall Street Journal. Talks between federal prosecutors and Sullivan have broken down and the ex-CFO faces the prospect of being indicted before a plea deal can be reached, the newspaper said. The sources said Sullivan is resisting a plea offer from Manhattan prosecutors because it would entail admitting to charges that, under federal sentencing guidelines, would result in substantial prison time. Meanwhile, plea negotiations are continuing with David Myers, the former WorldCom controller who was also charged with securities fraud earlier this month. Myers could strike a deal with the government before a Sept 3 deadline set to indict the two men, the Journal said. © AFX News ananova.com

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