Jury Declares Ebbers Guilty

A federal jury today found Bernard Ebbers, WorldCom Inc.s former chief executive, guilty of fraud, conspiracy and filing false documents with regulators.

Reuters reported he faces up to 85 years in prison; sentencing is scheduled for June 13.

The 63-year-old Ebbers plans to appeal, Reuters said.

Ebbers epitomized the rise and fall of the telecommunications market. The market saw once high-flying companies like WorldCom, Enron and Global Crossing file record bankruptcies and face widely publicized accounting scandals.

The jury found Ebbers guilty after two weeks of deliberations.

MCI Inc., WorldCom’s successor, would not comment on today’s proceedings.

Leave a comment

Your email address will not be published. Required fields are marked *

The ID is: 73395