Former WorldCom chief executive Bernie Ebbers looks set to remain out of jail
until an appeal against his conviction on charges of accounting fraud has been
The 63-year-old businessman was sentenced to 25 years jail in July after jurors
in New York convicted him of masterminding one of the biggest corporate frauds
in US history.
Ebbers was to surrender to prison on October 12, but US District Judge
Barbara Jones, who previously sentenced him, yesterday granted his request to
remain free until his appeal was decided.
US prosecutors opposed the request and said that even if an appeals court
determined the sentence was too harsh, any revised sentence was unlikely to not
include prison time.
‘The court’s decision is an appropriate acknowledgement that there are very
serious appellate issues in the case,’ defence lawyer Reid Weingarten said in a
The appeals court hasn’t handed down its decision, but according to analysts,
it’s not unusual for convicted white-collar criminals to remain free during
Former Credit Suisse First Boston banker Frank Quattrone and homemaking
entrepreneur Martha Stewart, both convicted of obstructing justice, were allowed
to remain free under similar circumstances.
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Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements