Bernard Ebbers, ex-CEO of Worldcom was sentenced to 25 years in prizon for his role in orchestrating the largest fraud / accounting scandal in US history. Bernie and associates cleaned off a cool 11 billion dollars. Lets hope all that money will help to keep him out of trouble in prizon. [It will].
Ebbers claimed having a weak heart and so, a lenient sentence. Interestingly the judge observed that she did not believe Ebber's heart condition was serious enough to warrant a lenient sentence. Way to go judge!
Bernie's fraud impacted tons of investors (directly) and more 'innocent bystanders' (indirectly) as Worldcomm went into banruptcy and re-emerged as MCI. MCI pestered millions of people by flooding them with junk mail and cold calls to take up their service.
I guess that's what you get for buying $6000 shower curtains.
Posted by: har at July 15, 2005 05:37 PMActually now that I think about it, that was Tyco's ex-CEO who did that. Gawd, it's so hard to keep all those white coller crimes straight.
Posted by: har at July 16, 2005 01:43 AM