updated 8/10/2005 3:34:50 PM ET 2005-08-10T19:34:50

The former controller of WorldCom, who admitted playing a pivotal role in the company's $11 billion accounting fraud, was sentenced Wednesday to one year and one day in prison.

David Myers, 47, was the third-highest-ranking company official to face charges in the record fraud. He pleaded guilty to conspiracy and securities fraud nearly three years ago.

Former WorldCom CEO Bernard Ebbers has already been sentenced to 25 years in prison, and former finance chief Scott Sullivan is scheduled to be sentenced Thursday.

Myers was a key witness at Ebbers' trial earlier this year, laying out in detail how the fraud was conducted.

While U.S. District Judge Barbara Jones said Myers' criminal conduct was "significant," she said she was rewarding Myers' early acceptance of responsibility in the fraud.

Myers told the judge he would regret his actions for the rest of his life.

"At the single most critical character-defining moment of my life, I failed," he said.

The judge did not impose a fine.

Prosecutor David Anders told the judge Myers' cooperation was "extraordinary," and the Securities and Exchange Commission sent the judge a rare letter praising Myers' cooperation.

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