True Crime > Former Worldcom CEO Gets 25 Years
CNN/Money:
Ex-WorldCom chief executive Bernard Ebbers was sentenced Wednesday to 25 years in prison for his role in orchestrating the biggest corporate fraud in the nation's history.
Legal experts said the sentence, effectively a life term for the 63-year-old, appears to be the longest ever for a CEO found guilty of committing corporate crimes while running a Fortune 500 company.
Ebbers was convicted in March for his part in the $11 billion accounting fraud at WorldCom that was the biggest in a wave of corporate scandals at Enron, Adelphia and other companies.
Good. The financial markets only work if they're honest. Crooks need to be punished, and Ebbers was the biggest crook in financial history.
Posted by lesjones