WorldCom Executives arrested
Scott Sullivan, WorldCom's fired chief financial officer and David Myers, the former controller, were charged with securities fraud, conspiracy to commit securities fraud and making false filings with the US Securities and Exchange Commission.
The two, who were released on bail, could face up to 15 years in jail if convicted.
Today's court proceedings were the culmination of a series of scandals that have rocked corporate America, beginning with the collapse of energy trader Enron Corporation in late 2001.
US Attorney General John Ashcroft said the indictments underlined the government's zero-tolerance policy towards corporate fraud.
