Bush Lashes Corporate Frauds for Fourth Time

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Last updated at: (Beijing Time) Sunday, June 30, 2002

Bush Lashes Corporate Frauds for Fourth Time

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United States President George W. Bush said in a radio address on Saturday morning that the US government will prosecute corporate executives involved in frauds. It was the fourth time in row he had made such remarks to the public.

Bush said: "The government will be vigilant in prosecuting wrongdoers to ensure that investors and workers maintain the highest confidence in American business."

WorldCom, the second largest long-distance provider in the country, revealed on Tuesday that it had improperly booked 3.8 billion US dollars of current expenses in the capital expenditure account in order to make its balance sheet show a profit when it was actually losing money.

Bush vowed to "hold people accountable" over the WorldCom Fraud in the following days. He had confirmed the toughening attitude of the US government three times before his special Saturday radio address.

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