Worldcom boss 'to face criminal charges'

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

Ebbers has been indicted on unspecified charges stemming from the company’s multi-billion-dollar accounting fraud, the source said in Washington.

Another source familiar with the investigation said that former WorldCom chief financial officer Scott Sullivan has been involved in plea negotiations and a deal could be struck soon.

Sullivan was indicted by a federal grand jury in August 2002 on charges that he oversaw a long-running conspiracy to hide operating expenses in order to boost earnings reports. His trial is scheduled to begin on April 7.

WorldCom collapsed last year in the United States’ largest bankruptcy.