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.
.@McAfee reorganizes #channel, customer leadership. #cybersecurity https://t.co/0dLZ3STLf3
July 18 2018 @ 21:47:05 UTC
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July 18 2018 @ 21:35:50 UTC
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July 18 2018 @ 19:51:23 UTC
@Tech_Data teams with @AdvantechIA to deliver #IoT solutions across #verticalmarkets. https://t.co/8MSyDY9v8A
July 18 2018 @ 19:51:23 UTC
The latest mobile PCs are arriving with some innovative capabilities and in a wider variety of form factors. This ra https://t.co/82G4zHAhl3
July 18 2018 @ 16:50:07 UTC
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