WorldCom Verizon Merger Called Off
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Merger talks with Verizon were called off by WorldCom in 2001. The reason, the trial of Bernie Ebbers heard, was fears that Verizon would discover the fraud. Star witness for the government, former WorldCom CFO, Scott Sullivan has been on the stand all this week. He has already pleaded guilty to his part in the fraud. He recollected that Ebbers was concerned that if Verizon was given access to WorldCom's books the scandal would break. In addition to Ebbers' own concern, Sullivan testified, that he had specifically warned him of the danger. Ebbers however denies any involvement or knowledge of the fraud. Sullivan has testimony is central to the governments case, because, many of the other witnesses have less than supportive. The former financial controller, David Myers testified that Ebbers had never made an accounting decision. The trial is expected to last eight weeks.
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