Former CFO and controller of WorldCom, Scott Sullivan and David Myers, respectively, are facing federal charges for financial illegality.
The two former, WorldCom executives had been targeted by authorities, during their investigation of the company, over allegations of accounting fraud worth billions of dollars.
The company fired Sullivan and Myers in June, after admitting it exaggerated its revenues by almost £2.5 billion. The exaggerated revenues enabled WorldCom to report profits, when it was in fact generating losses.
In addition to its former executives facing federal charges, WorldCom is facing the possibility of being brought to court, as a corporation, by the Justice Department, which could lead it out of business, if convicted.