Posted on 03/15/2005 9:31:26 AM PST by Daus
NEW YORK (CNN/Money) - Bernard Ebbers, the former CEO of WorldCom, was found guilty Tuesday for his role in the mammoth accounting scandal that brought the company down two and half years ago.
A federal jury in New York, on its eighth day of deliberations, convicted Ebbers on all nine counts that he helped mastermind a $11 billion accounting fraud at WorldCom, now known as MCI.
(Excerpt) Read more at money.cnn.com ...
Speaking as a person whose husband lost just over a hundred thousand dollars worth of MCI stock after years of bi-weekly investing, I say, GOOD!
Lock him up and throw away the key.
Get several ropes...
Can he be deported back to Canada now???
So I just emailed my husband about this.
He said, "I don't think he has that long left to live. Too bad."
We know a lot of people who retired early in the hey day -- I sure hope they diversified.
Woo Hoo!
Justice!
Judge: Mr. Ebbers you have just been found guilty of one of the most flagrant fraud schemes in American history.
Now go home and be with your loved ones to await sentencing.
Judge in a courtroom down the hall: Mr. Joe Six-pack you have just been found guilty of failure to pay traffic tickets in the amount of $250.00.
Bailiff take him away!
Ken Lay hasn't been convicted yet, has he?
So now, for the next 85 years the taxpayers (including all who lost money because of Ebbers) will pay for his "room and board" at some cushy Federal prison. I hope they fine him big time in addition to doing time.
The next democrat President (God forbid, will pardon him.
The trial is in January, I hope to make the jury. I will be the one in the black hood with the rope.
From another egotist like Ebbers - John Kerry: "Hey Terazza...box us some pickles and ketchup to send to our friend Bernny in the pen! I want him to be beholden to us when I pardon him. I could use a clever man like that in my administration when I become president."
I think he has. His trial begins in January, I think.
Wow, we gotta wait 9 more months? How long do these people get to prepare? - sheesh luwees.
It's also a nightmare for folks to have to contend with in corporations. The filings that these companies have to do will do nothing if someone TRULY wants to defraud stockholders. If someone is crooked, all the regs in the world won't stop them, but the regs WILL cause honest corporations to spend untold millions in money and wasted time trying to please congressmen and women who have no clue what goes on in business from day to day.
Next time, they ought to take their time and get some input from honest folks who will be directly affected by their legislation before passing new laws.
Our broken, inefficient trial system will give this man ample time for appeals so I don't look for him to begin serving any time for several years. Ironic that he will use the funds from his numerous frauds to forestall imposition of justice.
Just look at the Enron outrage - it won't even come to trial until early 2006 and then, God wiling, after guilty verdicts are received, it will be so many more years until justice in the form of imposition of the sentences is actually obtained.
As far as any Civil findings, don't hold your breath on that one either - IMO it will be several more years before any money is taken out of this Blood Sucker's hands and very probably after many of those who were destroyed are long since past being able to use whatever recompense is adjudicated.
I haven't heard this kind of thing from any Republicans as it relates to any of the corporate scandals.
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