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Bernard John Ebbers (August 27, 1941 – February 2, 2020) was a Canadian-American businessman and the co-founder and CEO of WorldCom. Under his management, WorldCom grew rapidly but collapsed in 2002 amid revelations of accounting irregularities , making it at the time one of the largest accounting scandals in the United States.
Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. Ebbers ...
In 2005, a jury found Ebbers guilty of fraud, conspiracy, and filing false documents with regulators. He was subsequently sentenced to 25 years in prison. [10] However he was released in December 2019 due to declining health. Ebbers died February 2, 2020. [11]
Ebbers formally resigned on April 30, 2002 and was replaced by John W. Sidgmore, former CEO of UUNET. As part of his departure, Ebbers's loans were consolidated into a single $408.2 million promissory note. [9] [10] [11]: 216–218 In 2003, Ebbers defaulted on the note and WorldCom foreclosed on many of his assets. [12]
Jeffrey Keith Skilling (born November 25, 1953) is an American businessman who in 2006 was convicted of federal felony charges relating to the Enron scandal.Skilling, who was CEO of Enron during the company's collapse, was eventually sentenced to 24 years in prison, of which he served 12 after multiple appeals.
John W. Sidgmore (April 9, 1951 – December 11, 2003) was a corporate executive.. He became the Chief Executive Officer of UUNET Technologies in June 1994. UUNET was purchased by MFS, later taken over by WorldCom, which eventually bought MCI.
Bernard Ebbers (2005) Criminal charge: Conspiracy, securities fraud, ... As the CEO of WorldCom, Bernie Ebbers’ crimes came to light when a merger with Sprint fell through in 2000, causing the ...
In case 1, Bernard Ebbers, CEO of WorldCom, rose from nothing to become a "telecom cowboy," before the 1990s downfall of WorldCom [7] impacted thousands of investors. In case 2, Joseph Medawar is a television producer creating an action adventure series based on real-life national security cases, but the show is a scam to defraud investors of ...