WorldCom chiefs refuse to answer panel's questions

INVOKING his Fifth Amendment right, WorldCom's former chairman refused to answer questions yesterday from a congressional panel investigating nearly $4 billion in accounting irregularities at the telecommunications giant.

"I do not believe I have anything to hide in these or any other proceedings," Bernard J Ebbers told the House Financial Services Committee. He said he'd been advised by his Washington attorney, Reid Weingarten, to remain silent because of the range of investigations by the Justice Department and Securities and Exchange Commission (SEC).

WorldCom's former chief financial officer, Scott Sullivan, also refused to testify, "based upon the advice of counsel".