Feeds

WorldCom mid-fry pleads guilty

Feds still working on the heavyweights

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

WorldCom former accounting executive Buford Yates has pleaded guilty to securities fraud and conspiracy and will cooperate with the Feds in obtaining the dirt on his bosses in a massive accounting fraud, the Associated Press reports.

"WorldCom officials have said roughly $7 billion was misreported, and reports have pinned the final figure as high as $9 billion," the wire service says.

Yates is said to have handled the major dirty work involved in concealing $3.8 billion in company expenses on orders from former CFO Scott Sullivan. Yates is the second WorldCon exec to plead guilty, following former comptroller David Myers. His former boss, Sullivan, has also been charged with securities fraud but has not yet pleaded.

Fellow employees Betty Vinson and Troy Normand, both accused of doing crucial legworkwork for Sullivan and Myers, are expected to cop pleas in the near future, which ought to ratchet up the pressure on Sullivan to plead and give up the Grand Prize, former CEO Bernard Ebbers, who has protested his innocence continually since the scandal broke. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.