BusinessCorporate FinanceEbbers denies WorldCom fraud

Ebbers denies WorldCom fraud

Former WorldCom CEO takes the stand to deny involvement in $11bn fraud.

Bernie Ebbers, the former WorldCom chief executive currently on trial charged with organising an $11bn fraud at the company, has said he had no idea that the FD Scott Sullivan was manipulating the accounts.

Link: WorldCom FD warned Ebbers over cash shortage

On the witness stand yesterday, Ebbers said he could not believe it when the fraud came to light.

Taking a stand has been a controversial decision for the Ebbers camp. US lawyers usually avoid allowing their clients taking the stand for tactical reasons.

Ebbers told the court in Manhattan that he did not know accounting and finance, but was more sales and marketing focussed.

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