Feeds

WorldCom CFO lied, he admits to court

Sullivan faces cross examination

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Defence lawyers for ex-WorldCom boss Bernie Ebbers attempted to undermine the credibility of the government's star witness yesterday by getting former CFO Scott Sullivan to admit he lied about the accounting fraud.

Facing his first day of cross examination Sullivan, 42, told the court he lied to board members and investors over the $11bn (£5.8bn) accounting scandal. Ebbers defence lawyer Reid Weingarten also probed Sullivan's private life and his use of cocaine and marijuana.

Weingarten told the court that Sullivan was only testifying for the government in return for a lighter sentence, although the former CFO denied this.

In one exchange, reports the BBC, Weingarten referred to a meeting Sullivan had with auditors in 2002.

"If you believe something is in your interest, you are willing and able to lie to accomplish it, isn't that right?" asked Weingarten.

"On that date, yes. I was lying," replied Mr Sullivan.

Sullivan has already pleaded guilty to his part in the accounting scandal that led to the financial collapse of WorldCom in 2002. Ebbers denies the fraud charges against him. ®

Related stories

Ebbers trial halted 'till Wednesday
Ebbers failed to tell of book fiddling
Ebbers 'drove Worldcom fraud' - Sullivan
Sullivan fingers Ebbers in WorldCom fraud whodunnit
WorldCom directors $54m lawsuit deal unravels
Ebbers fortune at risk as share prices slid
Former Worldcom directors cough up $18m
Ebbers never made 'an accounting decision' - witness
Ebbers feared fortune would be 'wiped out'
Ebbers knew of financial fiddling
Ebbers' financial know-how probed
Gloves off in Ebbers WorldCom fraud trial
Ebbers fraud trial kicks off
Ebbers faces WorldCom court showdown
Former Worldcom directors cough up $18m
MCI breaks free from Chapter 11
WorldCom gets sums wrong by $74bn
Bernie Ebbers faces criminal charges

Beginner's guide to SSL certificates

More from The Register

next story
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
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.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.