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Ebbers: GUILTY!
After deliberating for more than a week, a jury finds Bernie Ebbers guilty on all counts of fraud
March 16, 2005
1 Min Read
A jury today found former WorldCom CEO Bernie Ebbers guilty on all counts of fraud, conspiracy to commit fraud, and making false statements.
Ebbers was being tried for nine counts of fraud in the $11 billion accounting fraud, which resulted in the company going bankupt. WorldCom has since been reorganized as MCI Inc. (Nasdaq: MCIP).
The jury was bombarded with masses of financial data throughout the six-week trial, and spent eight days deliberating before finally coming to a verdict today. (See Ebbers Trial: The Jury Is Out, Ebbers Trial: Sex, Drugs & Numbers, Ebbers: Bumpkin or Bully?, Ebbers Day II: 'Look After Pennies', and Ebbers: Of Motels & Men.)
Ebbers, 63, now faces up to 85 years in prison. You do the math.
Light Reading will report more as information becomes available.The Staff, Light Reading
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