Feeds

Ebbers jailed for 25 years

So long Bernie

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

Bernie Ebbers has been sentenced to 25 years behind bars for his part in the $11bn (£5.8bn) fraud at US telco WorldCom, accordng to AP.

The sentence was handed down today by Judge Barbara Jones in New York.

Prosecutors had pressed for Ebbers, 63, to be jailed for life for orchestrating what they called "the largest securities fraud in history" back in 2002.

Ebbers' defence asked the judge to be lenient and to take into account Ebbers' heart condition and his past charitable works.

Ebbers was found guilty of masterminding the fraud in March. Following eight days of deliberation, a Manhattan federal jury returned guilty verdicts on charges of conspiracy, securities fraud, and seven counts of filing false reports.

Commenting on the case last month prosecutors said: "The enormity of the crimes that Mr Ebbers committed cannot be overstated: The fraud at...WorldCom was the largest securities fraud in history.

"Along with Enron, the name WorldCom has become synonymous with fraud." ®

Related stories

Ebbers faces jail for WorldCom fraud
Ebbers could face life for WorldCom fraud
Ebbers conviction - 'victory for individual responsibility'
Ebbers guilty on all counts
Ebbers guilty of WorldCom fraud
Ebbers was 'leader of the con'
Ebbers was 'intimidating' boss

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.