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.
@SamsungMobile Unfolds the #GalaxyFold Fold at Unpacked, Adds #5G phone and #WiFi6 at #Unpacked2019 goo.gl/fb/W9B9Fz
February 22 2019 @ 21:34:52 UTC
.@MNJTechnologies and @MomentumTelecom made this week's list of most read stories. See who else made the list. goo.gl/fb/tLXktc
February 22 2019 @ 20:00:55 UTC
4 Reasons a Small Business Should Avoid Borrowing goo.gl/fb/2CKmQT #businessstrategy #opinions #channelpartnersinsights
February 22 2019 @ 17:19:51 UTC
.@AireSpring hires former @CenturyLink @MegaPath execs as regional #channelmanagers. #cloud #SDWAN goo.gl/fb/1nEQSQ
February 21 2019 @ 17:45:02 UTC
.@BCNTelecom1 expands its agreement with a long-time partner. goo.gl/fb/S25Sjj
February 21 2019 @ 02:23:04 UTC
RT @Channel_Expo: We're proud to announce AT&T as our Official Security Sponsor! Meet with them at #CPEXPO at booth 531 >> https://t.co/uT…
February 20 2019 @ 21:19:29 UTC
.@MomentumTelecom acquiring Metro Optical to expand portfolio. #UCaaS #SDWAN goo.gl/fb/16EkGM
February 20 2019 @ 21:10:12 UTC
What led to @MNJTechnologies winning over a customer from a major carrier? It wasn't just cost. goo.gl/fb/Zt3swJ
February 19 2019 @ 23:50:48 UTC
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