Wow... I didn't think it was gonna happen...
25 Years for WorldCom's EbbersThe former telecom titan is headed to the big house for 25 long ones. "I find that a sentence of anything less would not reflect the seriousness of this crime," said presiding U.S. district Judge Barbara Jones. The 63-year-old Bernie Ebbers was convicted in March for overseeing WorldCom's $11 billion accounting fraud. In addition to serving his federal prison sentence, Ebbers must also surrender most of his assets, including a lumber company, a trucking venture, a marina, a golf course and a rice farm. The assets are expected to be sold, with 75 percent of the proceeds going to members of the WorldCom shareholders suit. The remainder of the proceeds will go to MCI, which stepped in to cover Ebbers' personal loans.
I wonder if this makes the Enron group a little nervous. One can only hope.
I wonder if this makes the Enron group a little nervous. One can only hope.