Monday, March 14, 2005

Ebbers Convicted of WorldCom Fraud

Bernard J. Ebbers, the former chief executive officer of WorldCom, was convicted on all nine counts of orchestrating the fraud that led to the bankruptcy of his company. The charges carry a maximum sentence of 85 years in prison. During the six week trial, Ebbers had taken the witness stand in his own defense, trying to pin the blame for the fraud on his subordinate Scott Sullivan, the company's chief financial officer. Five former WorldCom executives, including Sullivan, have already pleaded guilty in the case.

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