Bernard Ebbers, who built WorldCom from a humble Mississippi company into a telecommunications titan, was convicted today of engineering the colossal accounting fraud that sank the company.

US-based telecoms group Verizon Communications today said it was buying MCI, the former collapsed WorldCom group, for $5.3bn (€4bn).

Former WorldCom chief executive Bernard Ebbers has been indicted on federal charges stemming from the multibillion dollar accounting scandal at the telecommunications giant.

Criminal charges are expected to be announced against former WorldCom chief executive Bernard Ebbers, a source familiar with the case said today.

WorldCom Inc has agreed to pay investors a record $500m (€428.5m) to settle civil fraud charges over its $11bn (€9.42bn)-dollar accounting scandal, which was the biggest in US corporate history.

The new chairman and chief executive of WorldCom, Michael Capellas, has promised to improve ethics at the scandal-plagued telecommunications company.

The new chairman and chief executive of WorldCom Michael Capellas has promised to improve ethics at the scandal-plagued telecommunications company.

Troubled telecoms group WorldCom today named former Hewlett-Packard president Michael Capellas as its chairman and chief executive.

WorldCom is seeking a new CEO to replace present CEO John Sidgemore who is to step down.

Three former WorldCom executives may plead guilty and cooperate with prosecutors investigating America’s biggest accounting scandal.

WorldCom's former chief executive officer was aware of accounting irregularities, company attorneys have told legislators.

Three WorldCom bosses have been ordered to testify at a Congressional hearing to investigate how the telecom giant inflated its profits by €3.8bn.

With his company accused of a massive £2.5bn (€3.85bn) fraud and facing bankruptcy, WorldCom chief executive John Sidgmore has vowed to continue cutting costs.