Word: worldcom
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Dates: during 2000-2009
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...SENTENCED. BERNIE EBBERS, 63, former CEO of WorldCom, convicted in March of orchestrating the $11 billion accounting fraud that toppled the telecommunications giant; to 25 years in prison, the latest and harshest in a string of recent sentences for white-collar executives; in New York City. Under federal guidelines, Ebbers, who maintained his innocence, must serve at least 85%, or 21 years, of the term?almost a life sentence because...
SENTENCED. BERNIE EBBERS, 63, former CEO of WorldCom, convicted in March of orchestrating the $11 billion accounting fraud that toppled the telecommunications giant; to 25 years in prison, the latest and harshest in a string of recent sentences for white-collar executives; in New York City. Under federal guidelines, Ebbers, who maintained his innocence and plans to appeal, must serve at least 85%, or 21 years, of the term, making it all but a life sentence...
...character brought to mind the 2002 cover of Time Magazine, where Watkins was one of three whistleblowers featured on the front cover of the magazine’s “Persons of the Year.” The other two whistleblowers included Cynthia Cooper, an internal auditor at WorldCom and FBI agent Coleen Rowley. While Cooper mounted an investigation that revealed the largest known bookkeeping scam in corporate history, misstating earnings by at least $3.8 million, Rowley was the one who disclosed incompetence in counterterrorism efforts before the Sept. 11 attacks...
...legislation, should have been called "The Sour-Grapes Obstructionism of Harry Reid." Why glorify Reid's antics when there is so much that needs to be accomplished in Washington? Donald Nagy Chino Valley, Arizona, U.S. Ignorance Is Rich I detected a pattern in your story on the fall of WorldCom's former ceo Bernie Ebbers and other corporate fraudsters who may be facing long prison terms [March 28]. You reported that "Ebbers said he was too ignorant about accounting to detect the financial crimes of his underlings." John Rigas, ceo of Adelphia Communications, "claimed he was ceo in name only...
...detectedapatterninyourstoryon the fall of WorldCom's former CEO Bernie Ebbers and other corporate fraudsters who may be facing hard time [March 28]. You reported that "Ebbers said he was too ignorant about accounting to detect the financial crimes of his underlings." John Rigas, CEO of Adelphia Communications, "claimed he was CEO in name only." And Richard Scrushy, CEO of HealthSouth Corp., "thought his financial officers, though aggressive, were operating within the confines of the law." It is stunning how men who claim to be so clueless came to run huge companies and earn salaries...