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In the first admission of guilt in the multibillion dollar scandal, WorldCom s former controller pleaded guilty to securities fraud Thursday, saying he was told by senior management to falsify records.David Myers, 44, entered the plea in U.S. District Court after telling Judge Richard Casey he wanted to waive his right to be indicted on the charges. It was the first admission of guilt in what became the largest corporate accounting scandal in U.S. history.Casey accepted Myers guilty plea and set a tentative
stanley cups uk trial date of Dec. 26. The two fraud charges each carry a sentence of five years, while the false filing charge carries 10 years.Prosecutors say Myers and Scott Sullivan, the former chief financial officer at WorldCom, directed employees
stanley cup to falsify balance sheets to hide more than $3.8 billion in expenses. The deception enabled WorldCom to report a profit when it was actually losing money, according to regulators.WorldCom, which owns the nation s No. 2 long-distance telephone company MCI, became the biggest corporate bankruptcy in U.S. history in July. The company has since revised the amount of accounting improprieties up to $7.1 billion, and recent reports said the final total may reach $9 billion. Prosecutors say the fraud began when Myers and Sullivan ordered WorldCom accounting executives Buford Yates, Betty Vinson and Troy Normand to record billions in operating expenses as capital expenses.Vinson and Normand are also expected to plead gu
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