WorldCom, ex-financial officer to appear

Tuesday, September 9th 2003, 12:00 am
By: News On 6

OKLAHOMA CITY (AP) _ WorldCom as a company and its former chief financial officer face courtroom appearances in Oklahoma City this week and next on charges they defrauded Oklahoma investors.

Charlie Price, spokesman for Oklahoma Attorney General Drew Edmondson, said arrangements had been worked out for an officer of WorldCom, now known as MCI, to represent the company in court on Thursday.

A separate appearance has been scheduled for Sept. 17 for Scott Sullivan, former chief financial officer of the telephone company.

Last week, former WorldCom chief executive Bernie Ebbers pleaded innocent to fraud charges and was released on $50,000 bail by Oklahoma County Judge Russell Hall.

Hearings for the company representative and Sullivan have been set for 1:30 p.m. before Judge Hall.

Like Ebbers, the company and Sullivan are charged with 15 felony counts, alleging violation of Oklahoma securities laws.

A pretrial conference is set for Oct. 30 for Ebbers, who faces his first criminal charges stemming for a $11 billion accounting scandal at WorldCom.

Edmondson filed the charges on behalf of individual Oklahoma investors and state pension funds.

The complaint alleges the company's falsified reports led to pension funds losing $64 million through WorldCom investments.

Ebbers and Sullivan are among six former WorldCom executives named in the state complaint. All but Ebbers also have been hit with federal charges in New York.

Price said an Oklahoma court date has not been set for the other four accused ex-WorldCom officials _ David Myers, Buford Yates Jr., Betty Vinson and Troy Normand.

He said he did not know who would represent the company on Thursday in Oklahoma.