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November 30, 2009

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Former executives surrender

Thursday, Aug. 1, 2002 | 9:48 a.m.

NEW YORK -- Two former WorldCom Inc. executives surrendered today to face federal charges related to a multibillion accounting fraud at the bankrupt telecommunications giant.

Former chief financial officer Scott Sullivan and former controller David Myers turned themselves in to the FBI at 7 a.m. at an undisclosed location in Manhattan.

Federal agents led the pair out of New York's FBI headquarters in handcuffs at midmorning, enroute to court. The men, both wearing dark suits, did not speak to a swarm of reporters.

A seven-count complaint, unsealed in federal court tosday, charges them with securities fraud and conspiracy. The complaint alleges that Sullivan directed Myers to hide about $3.8 billion in expenses by dispersing the debts throughout the company's capital expense accounts.

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