The final chapter in the saga of WorldCom Inc. was revealed Wednesday when its former chief executive Bernie Ebbers was sentenced to 25 years in prison for an $11 billion accounting fraud that caused the telecommunications titan to file the largest bankruptcy in U.S. history.
Ebbers was credited with transforming Mississippi-based WorldCom into one of the worlds largest telecommunications companies through acquisitions, but maintaining the growth Wall Street expected became harder in the face of falling long-distance prices, competition and other pressures.
Earlier this year, Ebbers was convicted of nine counts of fraud, conspiracy and making false filings with regulators for the $11 billion fraud that led to the 2002 bankruptcy, and an evaporation of $180 billion in market value. WorldCom emerged from bankruptcy last year as MCI Inc.
.@Mitel #channelchief @johnlindsley talks successful channel strategy in #TopGun51 profile. dlvr.it/RBlLhG
August 23 2019 @ 12:20:32 UTC
.@VMware surprises with @CarbonBlack_Inc, @pivotal acquisitions. dlvr.it/RBjqZf
August 23 2019 @ 00:13:02 UTC
RT @Channel_Expo: 20+ #CPEvolution vendors have been added in the last couple weeks including @adaptivnetworks @Axcient @awscloud @DialpadH…
August 22 2019 @ 22:45:05 UTC
We caught up with @QOSNetworks and offer news from @TeneoGrp, @CloudGenix and @nitelusa in this #SDWAN roundup. dlvr.it/RBjf9q
August 22 2019 @ 22:36:03 UTC
.@Telarus aims to streamline commissions and build partner loyalty. dlvr.it/RBjWJJ
August 22 2019 @ 21:32:04 UTC
.@SungardAS #cartoon pokes fun at #containersecurity, which can be a serious issue. Something partners can address. dlvr.it/RBf3bd
August 21 2019 @ 21:39:02 UTC
.@Avaya #acquisition rumors intensify with @Mitel as mostly likely buyer. #UCaaS dlvr.it/RBf1yv
August 21 2019 @ 21:25:03 UTC
.@pax8, @MomentumTelecom and @Telarus made the #Inc5000 earlier this month. dlvr.it/RBcv7L
August 21 2019 @ 14:41:02 UTC
