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Topic: Bernie Ebbers


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In the News (Thu 31 Dec 09)

  
  Bernard Ebbers -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-25)
Ebbers gained public notice on October 1, 1997 when he announced that Worldcom was making an unsolicited bid for (additional info and facts about MCI Communications) MCI Communications.
In an effort to prevent Ebbers from having to sell his shares, the Worldcom (A group of persons chosen to govern the affairs of a corporation or other large institution) board of directors authorized a series of loans and loan guarantees between September 2000 and April 2002.
Ebbers, being the CEO of Worldcom during the time the inflated earnings occurred, was a major figure in these investigations and legal proceedings.
www.absoluteastronomy.com /encyclopedia/b/be/bernard_ebbers.htm   (1204 words)

  
 Ex-WorldCom CEO Ebbers found guilty on all counts - Mar. 15, 2005
Ebbers, 63, had been charged with one count of conspiracy, one count of securities fraud and seven counts of filing false statements with securities regulators.
Ebbers, a former milkman, basketball coach and Best Western hotel owner before he discovered the telecom business in 1983, wasn't at WorldCom's helm at the time of its final fall from grace.
Ebbers, who took the stand in his own defense, insisted that he knew nothing of WorldCom's shady accounting and that he left much of the minutiae of running the company to underlings.
money.cnn.com /2005/03/15/news/newsmakers/ebbers   (1201 words)

  
 Bernie Ebbers Guilty - Forbes.com   (Site not responding. Last check: 2007-10-25)
Ebbers was one of the founders of WorldCom, first known as LDDS, and was its CEO from 1985 until 2000.
Ebbers didn't get into the accounting details and testified he did not understand them, but he would reiterate to Sullivan the importance of "making the numbers." This order made him responsible for the fraud and a criminal, the jury found.
Ebbers testified that his management style was that of a coach, heavy on delegation (he held that job as a young man).
www.forbes.com /home/management/2005/03/15/cx_da_0315ebbersguilty.html   (1336 words)

  
 The Seattle Times: Business & Technology: WorldCom ex-CEO Ebbers asks judge for leniency
Ebbers, 63, was convicted March 15 of directing an $11 billion accounting fraud at WorldCom, once the second-largest long-distance company, between 2000 and 2002.
Ebbers said he deserves a prison term that does "not significantly exceed" the one Jones gives to former WorldCom Chief Financial Officer Scott Sullivan when he is sentenced Aug. 4.
Ebbers offered letters from four of his daughters, students from a Sunday school class he taught, family friends, former business associates, an ex-colleague on the board of his alma mater, Mississippi College, and a woman employed by a business he runs.
seattletimes.nwsource.com /html/businesstechnology/2002329258_ebbers11.html   (649 words)

  
 KUTV: WorldCom's Bernie Ebbers Found Guilty
Later, as his lawyer promised an appeal and predicted he would "ultimately be vindicated," Ebbers and his wife, nearly crushed by a phalanx of cameras, hailed a cab and sped away.
Ebbers' largely blue-collar jury of seven women and five men considered the case for eight days, an uncommonly long deliberation for white-collar cases, but never showed signs of discord.
Ebbers still faces civil litigation, including from the company, which backed up his $400 million in personal loans when Bank of America demanded more and more collateral as the stock price fell.
kutv.com /topstories/topstories_story_074124113.html   (1069 words)

  
 BBC NEWS | Business | Ebbers guilty of Worldcom fraud
Mr Ebbers, 63, who is to appeal against the verdict, was also found guilty of seven counts of filing false documents.
Mr Ebbers told the court he knew too little about the company's accounts to be aware of the fraud and blamed his former finance chief, Scott Sullivan.
They portrayed Mr Ebbers as "obsessed" with keeping the company's share price high at a time when the telecoms sector was under pressure in the wake of the dotcom crash.
news.bbc.co.uk /2/hi/business/4351975.stm   (607 words)

  
 TelecomWeb   (Site not responding. Last check: 2007-10-25)
Former WorldCom CEO Bernard Ebbers was found guilty of fraud, conspiracy and false regulatory filings after a six-week federal trial in New York as a result of the $11-billion accounting scandal which rocked the company into Chapter 11 bankruptcy a few years ago.
Ebbers, 63, did not speak to reporters after the verdict, but his attorney Reid Weingarten promised an appeal, saying prosecutors kept important witnesses off the stand by not offering them immunity.
Ebbers’ wife, Kristie, was also in the courtroom for the verdict announcement.
www.telecomweb.com /news/1111002380.htm   (359 words)

  
 USATODAY.com - Ebbers is a man of many contradictions   (Site not responding. Last check: 2007-10-25)
Ebbers was once a darling of Wall Street, with his daring telecom mergers that kept investment banks humming.
But in court, Ebbers said he considered leaving the company in 2000 after he became "embarrassed" after a meeting with BP Amoco officials.
Ebbers testified that he still owes WorldCom $350 million of the $400 million it paid to guarantee his personal loans.
www.usatoday.com /money/industries/technology/2005-03-15-ebbers-profile_x.htm   (976 words)

  
 BBC NEWS | Business | Profile: Bernie Ebbers
Ebbers' humble beginnings were a far cry from the height of his success as a multi-millionaire business tycoon, admired and feared in equal measure.
Cost-conscious and obsessive, Ebbers was known to count vehicles in the company car park at night-time to see who was working late and who had gone home, according to Reuters news agency.
But the BBC's Mark Gregory says the guilty verdict for Ebbers will be a huge relief for the US prosecutors, who have found it hard to win convictions against those they see as responsible for the excesses of the dot com era.
news.bbc.co.uk /1/hi/business/4352553.stm   (520 words)

  
 Ebbers was 'leader of the con' | The Register
WorldCom boss Bernie Ebbers was accused of lying to the jury yesterday as the fraud trial surrounding the $11bn (£5.8bn) collapse of the giant US telco entered its final phase.
Assistant US Attorney William Johnson rounded on Ebbers' testimony that the former head of the telecoms giant and the man accused of masterminding the massive corporate fraud was unaware of the accounting scandal.
Bernie Ebbers was the leader of WorldCom and the leader of the con," said Johnson.
www.theregister.co.uk /2005/03/03/worldcom_ebbers   (430 words)

  
 Ex-WorldCom CEO Ebbers found guilty - Telecommunications - Fiber Optics - SEC - General
Ebbers, 63, could spend the rest of his life in jail and pay millions of dollars in fines.
Ebbers is the most prominent executive to be convicted in a broad federal sweep to investigate a spate of scandals that rocked Wall Street at the end of the late 1990s economic boom.
Ebbers, for his part, insisted he was ignorant about highly technical financial matters and that he relied on Sullivan to provide the expertise.
www.marketwatch.com /news/story.asp?guid={A3E1D300-73B4-4BCE-B6CC-D41045FECC03}&siteid=google&dist=google   (944 words)

  
 TalkLeft: Bernie Ebbers Jurors Explain Verdict   (Site not responding. Last check: 2007-10-25)
If Ebbers hadn't testified, and the defense just hammered on Sullivan's lack of credibility in closing and on the lack of corroborating witnesses, maybe the verdict would have been different.
But, looking at it from Ebbers standpoint, had he not testified and been convicted, he would be kicking himself for the next 20 years or more for not taking the stand, wondering if his testimony would have changed the outcome.
Ebbers' defense team had the money for mock juries, shadow juries, skilled lawyers and trial consultants to gauge the acceptability of the "How was I to know" defense, to take him through grueling mock-cross examinations and to predict the effect of Ebbers' testimony on the jury.
www.talkleft.com /new_archives/010069.html   (1929 words)

  
 Online NewsHour: Federal Government Rests Its Case Against Former WorldCom CEO Bernard Ebbers -- February 23, 2005
Ebbers is accused of orchestrating an $11 billion accounting fraud and faces up to 85 years in prison.
Ebbers is being tried on charges of masterminding an $11 billion accounting fraud, the biggest in U.S. History, to mislead investors about WorldCom's financial health.
There was one document Scott said that he wrote to Bernie describing elements of the fraud, but it's never been produced in court.
www.pbs.org /newshour/bb/business/jan-june05/ebbers_2-23.html   (1316 words)

  
 CBC News: Trial of former WorldCom CEO Bernie Ebbers opens   (Site not responding. Last check: 2007-10-25)
Ebbers, 63, has pleaded not guilty to charges of fraud and conspiracy connected with the company's $11 billion US accounting scandal.
"Bernie Ebbers never sought to mislead investors, never sought to improperly manipulate WorldCom's numbers, never improperly took any money and never sought to hurt the company he built," Ebbers's lawyer Reid Weingarten said when his client was indicted in March 2004.
The prosecution's star witness against Ebbers is expected to be former WorldCom chief financial officer Scott Sullivan, who pleaded guilty to three criminal charges and agreed to co-operate with the U.S. government in exchange for the possibility of a lighter sentence.
www.cbc.ca /story/business/national/2005/01/18/ebberstrial-050118.html   (435 words)

  
 RV.Net Open Roads Forum: Around the Campfire: Bernie Ebbers   (Site not responding. Last check: 2007-10-25)
The CEO (Bernie Ebbers) in this case was shown to have committed criminal acts.
In order for Ebbers to be found guilty, the evidence had to be such that a jury of his peers felt he committed crimes.
Ebbers must be guilty, he ran the show after all--(in the jury's collective mind.....) I'd like to see the jury members interviewed individually, on this.
www.rv.net /forum/Index.cfm/fuseaction/thread/tid/15219399.cfm   (1180 words)

  
 TIME Digital -- Digital 50 - BERNIE EBBERS   (Site not responding. Last check: 2007-10-25)
Think of it as the tale of two telecommunications-company mergers--for Ebbers, it was the best of years and the worst of years.
At a meeting on Wall Street in June, a confident Ebbers, who was WorldCom's chief executive before it merged with MCI, affirmed rosy predictions that earnings would grow 40% this year.
Ebbers blamed newly installed software from Lucent, but his company was criticized for its slow reaction.
www.time.com /time/digital/digital50/26.html   (330 words)

  
 TalkLeft: Bernie Ebbers Convicted on All Counts   (Site not responding. Last check: 2007-10-25)
The verdict is in on Bernie Ebbers in the WorldCom trial.
His testimony against Ebbers was bought and paid for with promises of leniency in his own case.
Bernie was very aware of the Worldcom financial figures and was able to explain in depth why the Sprint acquisition would be good for both companies.
www.talkleft.com /new_archives/010046.html   (2720 words)

  
 Stockpatrol: Former WorldCom CEO Bernie Ebbers Convicted
Bernard Ebbers, former CEO of WorldCom, was convicted Tuesday for his role in orchestrating the massive fraud that led to collapse of the telecom giant.
Ebbers, who is scheduled to be sentenced on June 13, faces a lengthy prison term.
Ebbers, who testified at the trial, denied Sullivan’s allegations, claiming that he did not pay attention to accounting details and insisting that Sullivan never had advised him of any concerns.
www.stockpatrol.com /article/key/ebbersconvict   (290 words)

  
 Om Malik : » Bernie Ebbers, Dumb & Dumber
Bernie Ebbers’ despite claims of no knowledge about minor details of the business called WorldCon had intimate knowledge of the goings-on at his company, according to his testimony.
Ebbers testified that Grubman had visited him on his yacht at the 1999 Super Bowl and he had played pool with him, but that they weren’t close personal friends, and when he visited the yacht he ‘didn’t stay the whole weekend.
Bernie says he never took any advice from Grubman, but this is a complete lie, as per Grubman’s own congressional testimony.
www.gigaom.com /2005/03/02/bernie-ebbers-dumb-dumber   (419 words)

  
 Bernie Ebbers, a Biography   (Site not responding. Last check: 2007-10-25)
After high school, Ebbers was briefly attended the University of Alberta and Calvin College before enrolling at Mississippi College.
At these hearings Ebbers stated "I do not believe I have anything to hide, I believe that no one will conclude that I engaged in any criminal or fraudulent conduct." After making this statement Ebbers asserted his Fifth Amendment rights against self-incrimination.
The basis of the allegation was that Ebbers' statement constituted testimony that could not be cross-examined.
www.juiceenewsdaily.com /0605/news/bernie.html   (666 words)

  
 Church Food : Chicago
Bernie didn’t really even hear the shouts of the reporters and they all bounced into some unseen and unknown compartment in his brain.
Bernie approached the wise old man who seemed to be at the center of all this.
Bernie Ebbers thought he had known every kind of pain there was to know.
blogs.salon.com /0004257/2005/03/16.html   (624 words)

  
 CBS News | WorldCom Jury Didn't Buy Bernie | March 16, 2005 20:00:05
Since Sullivan already had admitted to related crimes, Ebbers essentially pointed the finger at his former colleague and told jurors that of the two of them, he, Ebbers, was the one more likely to be telling the truth.
It means either that defense attorneys believe their case is so hopeless that the testimony couldn't hurt, that they want to soften up the jury in order to avoid a death penalty, or that the defendant's credibility and reputation are so impeccable that jurors actually might believe the inevitable denial of guilt from the stand.
Ebbers' devastating loss also is a lesson that "paper management" or, as a cynic might say, the art of not leaving a paper trail, isn't all that it is cracked up to be.
www.cbsnews.com /stories/2005/03/15/opinion/courtwatch/main680325.shtml   (996 words)

  
 Salon Technology Log | Bernie Ebbers, a 19th century-style tech tycoon?
Ebbers had just engineered a deal in which WorldCom, a fair-sized but little known telecommunications company he ran from Jackson, Miss., would take over MCI, a phone company with a household name.
The rise of Bernie Ebbers bears comparison with the rise of the industrial tycoons of the 19th century.
Carnegie, effectively, was accountable to no one but himself (and a conscience that was for Carnegie always a source of some trouble); Ebbers is the servant of his shareholders.
www.salon.com /tech/log/1999/10/06/ebbers/print.html   (434 words)

  
 Arranging Matches: Happy Bernie Ebbers Goes to Jail Day!
In a great day for former Worldcom employees, former CEO Bernie Ebbers was sentenced to 25 years in prison for his role in the nation's largest accounting fraud.
Bernie Ebbers is getting what he deserves and there are thousands upon thousands of ex-Worldcom employees just like me who applaud this decision.
Bernard Ebbers, founder and former chief executive of the former Worldcom communications company, was sentenced in federal court in Manhattan to 25 years in prison.
arrangingmatches.typepad.com /am/2005/07/bernie_ebbers_g.html   (493 words)

  
 WorldCom's Bernard Ebbers quits CEO post - Apr. 30, 2002
The largest of those was $366 million in loans to Ebbers at interest rates between 2.2 and 7 percent.
The company's latest proxy puts Ebbers' holdings at 26.9 million shares of WorldCom stock and 697,528 shares of the tracking stock for MCI (MCIT: up $0.22 to $3.66, Research, Estimates).
Sidgmore's comments to analysts did not discuss the circumstances of Ebbers' departure, but his comment to the Journal suggested that Ebbers was forced out due to recent problems.
money.cnn.com /2002/04/30/technology/ebbers   (970 words)

  
 Judgment Day Coming Sooner for Ebbers
The complaint comes as Ebbers -- the top former WorldCom honcho who hasn't been charged in an ongoing federal fraud case against the bankrupt telco -- celebrates his 62nd birthday.
All of those people, other than Ebbers and Sullivan, have pleaded guilty and are cooperating with federal prosecutors.
WorldCom was among the leading telecom companies and a hot name on the Nasdaq as Ebbers led it through a series of acquisitions in the late 1990s.
www.thestreet.com /pf/tech/scottmoritz/10110479.html   (816 words)

  
 CBC News Indepth: Worldcom   (Site not responding. Last check: 2007-10-25)
Ebbers pleads not guilty to charges of fraud and conspiracy in connection with an $11-billion US fraud at WorldCom.
Ebbers found guilty by a federal jury of fraud, conspiracy and filing false documents with regulators.
She says Ebbers has until Oct. 12 to report to prison and she would recommend a low-security federal prison in Yazoo City, Miss., near his home.
www.cbc.ca /news/background/worldcom   (590 words)

  
 CTV.ca | Ebbers enters innocent plea on WorldCom charges
Ebbers, the Canadian-born founder and former chief executive of the telecommunications company, surrendered to the FBI earlier today, one day after the U.S. government announced charges against him.
Ebbers, who was born in Edmonton, resigned from WorldCom in April 2002.
Ebbers, Sullivan and four other former executives were charged in Oklahoma last year with violating state securities laws in an accounting fraud prosecutors say cost state pension funds $64 million.
www.ctv.ca /servlet/ArticleNews/story/CTVNews/1078318108298_7   (503 words)

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