Former Worldcom CEO Sentenced to 25 Years
Former WorldCom CEO Bernard Ebbers, convicted of orchestrating the largest corporate fraud in U.S. history, was sentenced to 25 years in prison Wednesday.
Ebbers Convicted on All Charges in Worldcom Case
Former WorldCom CEO Bernard Ebbers, who built a small Mississippi telephone company into the second largest U.S. long-distance provider, was convicted Tuesday of leading an $11 billion fraud that triggered the largest bankruptcy in U.S. history.
Citigroup to Pay $2.65 Billion to Settle Worldcom Suits
Financial services giant Citigroup Inc. agreed to pay $2.65 billion Monday to settle class-action lawsuits brought by investors who bought WorldCom Inc. securities before the telecommunications firm filed for bankruptcy.
Former WorldCom Chief Faces Federal Securities Fraud Charges
Former WorldCom CEO Bernard Ebbers has been indicted on federal charges including securities fraud in connection to a multibillion dollar accounting scandal at the massive telecommunications firm, Attorney General John Ashcroft announced Tuesday.
Embattled long distance giant WorldCom agreed Monday to pay a $500 million fine to settle investors' fraud claims.
WorldCom Inc.'s former controller pleaded guilty to securities fraud, saying he was executing the orders of "senior management" in falsifying records, a misstep that helped create one of the biggest accounting scandals in U.S. history.
Scott Sullivan, WorldCom's former top finance executive, pleaded innocent to charges he hid billions of dollars of the phone company's expenses as part of a scheme to artificially inflate its earnings by some $5 billion over the course of 18…
Two former executives of bankrupt telecommunications giant WorldCom were arrested Thursday and charged with securities fraud and conspiracy.
WorldCom, the second-largest U.S. long-distance carrier, filed for bankruptcy protection Sunday night, as the telecom giant collapsed under pressure of a major accounting scandal and its $30 billion of debt.
