Feeds

Ebbers recalls shock of discovering WorldCom fraud

'No earthly idea that that would occur'

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Bernie Ebbers said he was "shocked" when he first found out about the massive accounting fraud that floored giant telco WorldCom.

He told a New York court yesterday that his grasp of technology and accounting were limited and that he was completely in the dark about the fraud.

"I never thought anything like that had gone on," he testified yesterday. "I put those people in place, and I trusted those people. I had no earthly idea that that would occur."

Quizzed about his own personal grasp of matter the IHT reports him as saying: "I don't know about technology and I don't know about finance and accounting."

Ebbers - who denies the charges against him in relation to the $11bn (£5.8bn) book fiddling that led to the collapse of WorldCom in 2002 - also challenged the version of events laid out by the prosecution's star witness, former CFO Scott Sullivan, who testified that he had repeatedly spoken to Ebbers about the cover-up.

"He has never told me he made an entry that wasn't right," Ebbers said. "If he had, we wouldn't be here today." ®

Related stories

Ebbers in the dark over accounting scandal - witness
Ebbers trial team begins defence
Ebbers was 'intimidating' boss
WorldCom CFO lied, he admits to court Ebbers trial halted 'till Wednesday
Ebbers failed to tell of book fiddling
Ebbers 'drove Worldcom fraud' - Sullivan
Sullivan fingers Ebbers in WorldCom fraud whodunnit
WorldCom directors $54m lawsuit deal unravels
Ebbers fortune at risk as share prices slid
Former Worldcom directors cough up $18m
Ebbers never made 'an accounting decision' - witness
Ebbers feared fortune would be 'wiped out'
Ebbers knew of financial fiddling
Ebbers' financial know-how probed
Gloves off in Ebbers WorldCom fraud trial
Ebbers fraud trial kicks off
Ebbers faces WorldCom court showdown
Former Worldcom directors cough up $18m
MCI breaks free from Chapter 11
WorldCom gets sums wrong by $74bn
Bernie Ebbers faces criminal charges

Boost IT visibility and business value

More from The Register

next story
UK fuzz want PINCODES on ALL mobile phones
Met Police calls for mandatory passwords on all new mobes
Canadian ISP Shaw falls over with 'routing' sickness
How sure are you of cloud computing now?
Don't call it throttling: Ericsson 'priority' tech gives users their own slice of spectrum
Actually it's a nifty trick - at least you'll pay for what you get
Three floats Jolla in Hong Kong: Says Sailfish is '3rd option'
Network throws hat into ring with Linux-powered handsets
Fifteen zero days found in hacker router comp romp
Four routers rooted in SOHOpelessly Broken challenge
New Sprint CEO says he will lower axe on staff – but prices come first
'Very disruptive' new rates to be revealed next week
PwC says US biz lagging in Internet of Things
Grass is greener in Asia, say the sensors
Ofcom sees RISE OF THE MACHINE-to-machine cell comms
Study spots 9% growth in IoT m2m mobile data connections
O2 vs Vodafone: Mobe firms grab for GCHQ, gov.uk security badge
No, the spooks love US best, say rival firms
Ancient pager tech SMS: It works, it's fab, but wow, get a load of that incoming SPAM
Networks' main issue: they don't know how it works, says expert
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.