Oklahoma Attorney General Drew Edmondson issued criminal indictments against WorldCom and six of its former management staff, including Chief Executive Officer Bernard Ebbers, Chief Financial Officer Scott D. Sullivan, Controller David F. Myers, Director of General Accounting Buford T. Yates, Jr., Director of Management Accounting Betty L. Vinson and Director of Legal Accounting Troy M. Normand. The criminal complaint alleges that the company and these six employees executed a scheme to artificially inflate the value of WorldCom stock and bonds by intentionally falsifying information filed with the Securities and Exchange Commission.
In response, MCI stated that it intends to fully cooperate with the Oklahoma state Attorney General, but that it does not believe this action will impact the bankruptcy process. MCI said it remains on track for its confirmation hearing before the federal Bankruptcy Court, which is scheduled to begin on 08-September-2003.
http://www.oag.state.ok.us/
