WorldCom ex-CFO pleads not guilty to securities fraud

WorldCom former chief financial officer Mr Scott Sullivan and former accountant Mr Buford Yates pleaded not guilty to all charges…

WorldCom former chief financial officer Mr Scott Sullivan and former accountant Mr Buford Yates pleaded not guilty to all charges against them in a US securities fraud case before a federal judge.

Mr Yates was ordered to post a bail bond of $500,000 and surrender his passport. His travel was restricted to two jurisdictions in New York and the entire state of Mississippi.

Bail had previously been set for Mr Sullivan.

A US attorney said the government is continuing its investigation of WorldCom's $7.2 billion profit restatement and plans to add additional charges against the two defendants.

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No trial date was set because of the new charges.