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BREAKING NEWS ~ Former WorldCom finance chief gets five year prison term

[JURIST] AP is reporting that former WorldCom CFO Scott Sullivan has been sentenced to five years in prison for his role in the company's $11 billion accounting fraud, the largest in US history. Sullivan is the fifth former executive from WorldCom to receive a prison sentence. In July, former WorldCom CEO Bernard Ebbers [JURIST news archive] received a 25-year prison sentence [JURIST report] after being convicted of fraud, conspiracy and filing false documents with regulators. Also in July, Sullivan and two others entered into civil settlements [JURIST report] with investors over their roles in the WorldCom accounting fraud [JURIST news archive].

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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