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CNN Live Today

WorldCom Execs Arraigned Today

Aired September 04, 2002 - 11:51   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

ANDERSON COOPER, CNN ANCHOR: Two former WorldCom executives were arraigned today in federal court in New York. They both pleaded not guilty to charges stemming from WorldCom's multi-billion dollar accounting scandal.
CNN's Chris Huntington is live in New York with details -- good afternoon, Chris.

CHRIS HUNTINGTON, CNN CORRESPONDENT: Good afternoon, Anderson. Well, indeed. No surprise that Scott Sullivan, the former chief financial officer and one of his colleagues, Buford Yates, who is still employed by the company pleading not guilty to a seven-count indictment that they basically cooked the books, that they helped inflate WorldCom's profits by some $5 billion over the last couple of years.

The only real development coming from today's arraignment, word from the federal prosecutors that they plan to expand the charges against these two men and possibly add defendants. And indeed, what everybody wants to know is, can this case be expanded and ultimately lead to the top and to Bernard Ebbers. That probably will hinge on the cooperation of some of the as of yet unindicted coconspirators -- Anderson.

COOPER: All right. CNN's Chris Huntington, live in New York. Thanks very much, Chris.

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