Speaking of the Titanic, anyone remember Bernie Ebbers and Worldcom?
Some highlights:
- "It's all over. Bernard Ebbers of WorldCom has won," cyber evangelist George Gilder gleefully announced to the world's telco titans back in October 1997. The upstart had bounded audaciously past GTE and BT to hand in the triumphant bid for MCI. But the victory was symbolic of something far greater than a gutsy acquisition of a company three times the size of one's own. Bernie was beating the Bells at their own game.
http://www.wired.com/wired/archive/6.11/wired25.html?pg=4
- Federal authorities indicted Ebbers with security fraud and conspiracy charges on March 2, 2004. An amendment to the indictment on May 25, 2004 increased the list of charges to nine felonies: one count each of conspiracy and securities fraud, and seven counts of filing false statements with securities regulators. Ebbers was found guilty of all charges on March 15, 2005.... On July 13, 2005, federal judge Barbara S. Jones, of the U.S. District Court, Southern District of New York in Manhattan, sentenced Ebbers to twenty-five years in a federal prison in Louisiana.... Ebbers self-reported to Oakdale Federal Correctional Institution in Oakdale, Louisiana on September 26, 2006, driving himself to the prison in his Mercedes.... The earliest date he can be released is in July 2028, at which time he will be 87 years old.
en.wikipedia.org |
