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Charges Near over WorldCom Scandal
by w1ld at 12:09 am EDT, Jul 31, 2002

Federal prosecutors are expected to bring the first criminal charges against figures allegedly behind WorldCom Inc.'s $3.85 billion accounting scandal soon, sources close to the situation said on Tuesday.

WorldCom former Chief Financial Officer Scott Sullivan and former Controller David Myers have been under investigation by the U.S. Justice Department for their roles in improperly booking WorldCom routine expenses as capital spending.

The sources said the communications company, now under new management since the departure of WorldCom Chief Executive Officer Bernie Ebbers in April, would not be charged.

Will The Street see more CEOs in hand cuffs? Prob. not.

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