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Ex-Worldcom CEO Denies Fraud Charges, Blames Subordinate


The former chief executive of Worldcom told jurors at his fraud trial Monday that he knows little about accounting and left all financial decisions to his chief financial officer.

Ex-Worldcom CEO Bernard Ebbers is accused of orchestrating an $11 billion fraud in which the company tried to fool investors and lenders by overstating revenues and hiding expenses.

His testimony is seen as an effort to blame misconduct on subordinates. He could face decades in prison if he is convicted.

Lawyers say Mr. Ebbers decision to speak in court is risky because he leaves himself open to probing questions from the prosecution.

The charges grow out of the company's 2002 bankruptcy, which was one of the largest in U.S. history. The trial has been underway for weeks.

Some information for this report provided by AP, Bloomberg, and Reuters.

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