Bank of America is expected to pay as much as $460 million as a contribution a class-action lawsuit against WorldCom accused of accounting fraud.

Bank of America, as well as other 14 banks, denied they had enough information about the fraud on the books of the company, but the defense team for WorldCom stated they all were well aware of the accounting fluff led by the company’s ex-CEO Bernard Ebbers who now faces 85 years in jail. Bank of America is said to have helped in selling billions in WorldCom stock and bonds to investors in 2000 and 2001.

"Bank of America believes it is in the best interests of the company to resolve these claims and put this litigation behind it and focus efforts on creating greater value for the shareholder," the bank said in a statement.

Last year, Citigroup Inc. agreed to pay $2.6 billion to settle its portion of the case.