Ex-WorldCom Exec Gets 1 Year in Prison
An AP newswire article by Erin McClam, via The Washington Post, reports that:
The former director of general accounting at WorldCom was sentenced Tuesday to one year and one day in prison for his role in the company's record $11 billion fraud.
The sentence for Buford "Buddy" Yates, 49, came nearly three years after he pleaded guilty to helping WorldCom overstate its earnings from 2000 to 2002 in a scandal that bankrupted the telecom company.
Yates pleaded guilty to fraud in October 2002, telling a judge he was instructed by superiors to make adjustments to company books that had "no justification" and were designed to meet Wall Street expectations.
posted by Fergie @ 8/09/2005 08:29:00 AM
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