WorldCom ‘not guilty’ on Oklahoma charges

The saga grinds on

By Tim Richardson • Get more from this author

Posted in Business, 12th September 2003 15:22 GMT

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MCI, WorldCom - call it what you will - has pleaded not guilty to 15 charges brought against it last month by Oklahoma Attorney General Drew Edmondson.

Last month Oklahoma alleged the company and six named employees "executed a scheme to artificially inflate the value of WorldCom stock and bonds by intentionally falsifying information filed with the Securities and Exchange Commission".

At the time the allegations were made WorldCom said in a statement: "We intend to fully cooperate with the Oklahoma state Attorney General, but we do not believe this action will impact the bankruptcy process."

However, according to several reports from the US, MCI is distinctly unhappy with the legal action.

In a statement MCI deputy general counsel, Carol Petren, said: "It is extremely disheartening that Mr Edmondson has brought charges against a company given the dramatic steps MCI has taken to put its house in order."

No one from WorldCom/MCI was available to comment further on this latest spat at the time of writing. Well, it is Friday… ®