| PAPER CHASE NEWSBURST |  
|
| Serious law. Primary sources. Global perspective. |
|
|
 |
|
 Thursday, July 27, 2006 |
SEC settles civil lawsuits against former WorldCom execs
Tom Henry at 8:40 PM ET
[JURIST] The US Securities and Exchange Commission (SEC) [official website] said Thursday that it had reached settlements with former WorldCom CFO Scott Sullivan and six others for their roles in fraudulent adjustments and entries in WorldCom's books and records. Mark Abide, former WorldCom director of property accounting, also agreed to pay a total of nearly $130,000 as part of the settlement.
WorldCom [MCI/WorldCom website] plunged into bankruptcy in 2002 after the accounting fraud at the company was revealed. Former WorldCom CEO Bernard Ebbers [JURIST news archive] was sentenced to 25 years in prison [JURIST news report] for his role in defrauding investors. Sullivan received a five-year sentence [JURIST report]. Reuters has more.
Link |
|
|
print |
subscribe |
 |
latest newscast |
 Facebook page
| For a one-stop snapshot of the latest legal news that matters, with breaking documents, new legal videos, live law-related webcasts, commentary by expert law professors and more - all updated through the day in real time, with no ads and no registration barriers - visit JURIST's homepage and check back often... |
|
|
| ABOUT | |
|
|
Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.
|
|
|
