KYRA PHILLIPS, CNN ANCHOR: Now, we are moving on to some WorldCom news. Allan Dodds Frank joins us live from -- where are you, Allan?</s>ALLAN DODDS FRANK, CNN CORRESPONDENT: I'm at the U.S. District Court in Manhattan, Kyra.</s>PHILLIPS: There we go. We are talking about two arrests that were made.</s>FRANK: Right. The former chief financial officer of WorldCom, Scott Sullivan, and a former controller, David Myers, were arrested this morning. We just came out after hearing where the judge, the magistrate, James Francis, released the two men, Scott Sullivan, on $10 million bail. He is the former chief financial officer, secured by $5 million lien on a fancy house he has been building in Boca Raton, Florida. David Myers, the controller, is being released on a $2 million bond secured by two pieces of property he owns in Mississippi. Their travel is being restricted to the United States. Their passports are surrendered. The next hearing is scheduled for the day after Labor Day. This is after they were arrested this morning, when they turned themselves in. They were lead out in handcuffs by the FBI from the FBI building to be brought here by car about three blocks to the courthouse for this hearing which we just now had -- Kyra.</s>PHILLIPS: Thank you, Allan Dodds Frank for the last-minute report there coming right out of the courtroom. We appreciate it very much, bringing us that late-breaking piece of news. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
WorldCom Execs Released on Bail