Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (145377)	7/13/2005 12:12:03 PM
From: StocksDATsoar	Read Replies (2) \| Respond to of 150070

news.moneycentral.msn.com July 13, 2005 12:04 PM ETWorldCom's Ebbers Gets 25 Years in PrisonadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articleMCI Inc(MCIP) Quote, Chart, News Related topicsPersonnel Announcements All Associated Press NewsNEW YORK (AP) - Bernard Ebbers, who as CEO of WorldCom oversaw the largest corporate fraud in U.S. history, was sentenced Wednesday to 25 years in prison. The sentence was handed down by Judge Barbara Jones of U.S. District Court in Manhattan three years after WorldCom collapsed in an $11 billion accounting fraud, wiping out billions of investor dollars. Recent investing newsStocks are on borrowed time Community Bancorp Inc. Joins the New Russell Microcap Index Halal Financial Services Inc - Partner with Michael Gassner, Islamic Finance Consultancy Firm Federal Signal Corporation Announces Establishment of Federal Signal Environmental & Sanitary Vehicle Company, Ltd., Based Near Shanghai, China Morningstar Founder to Buy Two Magazines "I find that a sentence of anything less would not reflect the seriousness of this crime," Jones said. Ebbers did not address the judge and showed no discernible reaction. His wife, Kristie Ebbers, cried quietly. Jones ordered Ebbers to report to prison on Oct. 12. She said she would recommend Ebbers be designated to the federal prison in Yazoo City, Miss., close to his home. Defense lawyer Reid Weingarten had asked for leniency, mentioning Ebbers' heart condition and his charitable works, cited repeatedly in 169 letters sent to the judge. He described Ebbers as "a modest man" and an angel to many desperate charitable causes. The judge said she did not believe his heart condition was serious enough to warrant a lesser sentence. She called the charity question a close call and said she would consider it but not formally reduce sentence because of it. In a victim impact statement, Henry J. Bruin Jr., 37, a former WorldCom salesman, said the company's collapse caused him "untold human carnage" and put him through "sheer hell." He lost all of his savings and couldn't get another sales job. 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. WorldCom emerged from bankruptcy as MCI Inc. © 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Back to News Home MSN Money Search MSN MoneyMessage BoardsSite Map