Oklahoma turns screws on WorldCom

THE US state of Oklahoma has raised the stakes in its criminal case against WorldCom, pressing charges against the bankrupt group and a string of former top staff.

The 15-count complaint includes charges of violating state securities laws by defrauding investors, lying about company finances and running a business as a fraud. WorldCom, now renamed MCI, on Thursday pleaded not guilty.

State Judge Russell Hall set a preliminary hearing conference for November.

Former chief financial officer Scott Sullivan is among five former senior staff facing charges. Onetime-chief Bernard Ebbers entered a not guilty plea earlier this month.

The former executives face up to 10 years in jail if convicted.

The company's collapse last year is estimated to have cost Oklahoma state pension funds $64m (£40m).