More indictments for WorldCom brass
Back biters' fancy-dress ball
fraudsters executives are set to turn on each other under increasing pressure from federal prosecutors determined to get at former CEO Bernard Ebbers, the Associated Press reports.
Former CFO Scott Sullivan, former comptroller David Myers and accounting exec Buford Yates have all been charged with securities fraud, a very serious offence which can draw up to ten years in Club Fed. In the wings are Betty Vinson and Troy Normand, accused of doing crucial dirty work for Sullivan and Myers.
Presently, Myers, Vinson and Normand are believed to be preparing plea deals, which presumably will involve some degree of cooperation with the Feds in exchange for leniency. This should inspire Sullivan to follow suit, the wire service speculates, and give up the Big Enchilada, Ebbers himself.
Meanwhile, Assistant US Attorney David Anders has said that he intends to name more defendants in the coming weeks, though he did not say who or how many. This likely means that the DoJ is going to systematically pressure little fish to rat out the next bigger fish, in hopes of establishing a rat-chain-reaction ending ultimately in some portion Ebbers' anatomy being mounted on US Attorney General John Ashcroft's office wall.
Isn't Justice a beautiful thing? ®