Prison Term For Former Telecom Chief - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Prison Term For Former Telecom Chief

Former telecom chief gets prison term

A New York federal judge has sentenced former WorldCom CEO Bernard Ebbers to serve 25 years in prison. The judge explained that the 63-year-old Ebbers deserved a tough sentence because he was a leader of the accounting fraud that topped the once-mightly telecom giant. Ebbers resigned as CEO in 2002, shortly before the widespread fraud at the company came to light. Investigators eventually uncovered eleven billion dollars in improper accounting. WorldCom collapsed in the largest bankruptcy in US history. The company has since emerged as MCI.

Ebbers is the first of six former WorldCom executives and accountants facing sentencing this summer. The other five all pleaded guilty and agreed to cooperate against their former boss.

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