WorldCom finance chief gets five years

Ex-WorldCom chief financial officer Scott Sullivan has been sentenced to five years in jail for his part in a $11bn (£6.24bn) fraud that led to the collapse of the US telecoms giant.

Sullivan testified on behalf of the US government against Worldcom's former chief executive Bernard Ebbers, who was sentenced to 25 years last month.

Sullivan had pleaded guilty to charges of conspiracy, securities fraud and making false financial dealings.

'Every day I regret what happened at WorldCom,' Sullivan told the court. 'I accept responsibility for the false and misleading information.'

In sentencing, Judge Barbara Jones of the Manhatten federal court, told Sullivan that in spite of his co-operation with prosecutors, he still had to serve jail time because of his part in the fraud. However, no fine has been imposed.

Four other WorldCom executives have also been sentenced by Judge Jones this week, all of whom co-operated with the prosecution, and received terms ranging form one year in jail to periods of probation.

The accounting fraud that hit WorldCom in 2002 led to the largest bankruptcy in US history, causing billions of dollars in losses to shareholders and employees.

An estimated 20,000 employees lost their jobs when WorldCom filed for bankruptcy protection.