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Florida socialite and former WorldCom chairman John A. Porter is one of 10 former board members of the telecommunications giant who agreed last week to pay a total of $18 million out of their own pockets as part of a settlement with WorldCom investors who claim they were bilked by accounting fraud. However, Porter, who once boasted a $700 million stock portfolio but filed for personal bankruptcy last May, may not have to pay a penny himself.
January 13, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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