Wednesday, August 10, 2005

Former WorldCom CFO Sentenced to Five Years

Scott Sullivan, the former CFO of WorldCom, was sentenced to five years in federal prison. Sullivan had plead guilty to conspiracy charges in the collapse of WorldCom and later testified against his former boss, Bernie Ebbers. In a statement before the sentencing, Sullivan expressed shame and remorse for his behavior. He could have been sentenced to as much as 25 years.

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  • In July 2005, Bernard J. Ebbers, the former chief executive officer of WorldCom, was sentenced to 25 years in prison for his role in the WorldCom fraud. Ebbers is 63 years old. During the six week trial, Ebbers had taken the witness stand in his own defense, trying to pin the blame for the fraud on his subordinate Scott Sullivan, the company's chief financial officer. Five former WorldCom executives, including Sullivan, have already pleaded guilty in the case.


  • In August 2002, a federal grand jury indicted Sullivan on seven charges of conspiracy to commit securities fraud and making false statements to the U.S. Securities and Exchange Commission.

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