Ebbers begins marathon jail term

Former WorldCom chief locked up for 25 years

Written by AccountancyAge.com

Bernard Ebbers, the former boss of WorldCom, has started a 25-year jail sentence for his role in the $11bn (£5.8bn) accounting fraud, which saw the company collapse into bankruptcy in 2002.

Ebbers, 65, drove himself through the gates of the Louisiana federal prison, representing an almighty fall from grace for the man who built a tiny telecommunications company into an industry giant.

A former high school basketball coach, Ebbers was sentenced in July last year after being convicted of fraud and conspiracy in the massive fraud at WorldCom.

Last month the 2nd US Circuit Court of Appeals upheld Ebbers' conviction and sentence. His attorney has said he will continue to appeal.

Enjoyed this article? Help spread the word:

Comments

Reader comments for this story

White papers

Related jobs

Spotlight

Find a place in the sun with YP

May issue of Young Professional features a guide to living...

James Thompson, Ecosecurities CFO

Profile: James Thompson, CFO of Ecosecurities

James Thomspon couldn't have started his job at a worse...

Practice careers guide: big versus small

Is big really best or would working for a medium...

Find your next job

Find your next job
Salary Checker

Search white papers

Search white papers

Have your say

Has the credit crunch made you fear for your job?
Yes, my company says jobs will go
Maybe, if things get worse, I could be hit
No, business is quite stable

Job of the week

More finance jobs...

Your next job