Another accountant holds his hands up...
Published: 8 October 2002 09:50 GMT
Buford Yates, WorldCom's former director of general accounting, has pleaded guilty to fraud in the ongoing investigation into the accounting scandal which brought the company to its knees over the summer.
Yates becomes the second former WorldCom accountant to hold up his hands and admit to criminal activity in the case. Last month financial controller David Myers, Yates' immediate superior, pleaded guilty to his part in the fraud.
Yates has pleaded guilty to conspiracy to commit fraud and committing securities fraud. The conspiracy charge carries a maximum punishment of five years in prison and a fine of $250,000. The fraud charge carries a maximum of ten years in prison and a $1m fine.
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