Okla. Drops Charges Against WorldCom Exec

The Oklahoma attorney general dropped fraud charges against former WorldCom Inc. Chief Financial Officer Scott D. Sullivan and four other company officials following their sentencing in federal court in New York.

The 15-count 2003 indictment for violating the Oklahoma Securities Act was dropped by Atty. Gen. Drew Edmondson, who said that the five-year prison sentence Sullivan received on federal charges last week was a sufficient punishment. All five cooperated with Oklahoma authorities as well as federal officials, Edmondson said.

Edmondson had charged Sullivan, former WorldCom Chief Executive Bernard J. Ebbers and other former company executives with fraud related to $64 million in losses suffered by Oklahoma pension funds because of the company’s accounting fraud.