Bernard Ebbers, a former junior high basketball coach who built WorldCom into a telecommunications giant, was convicted Tuesday of directing the biggest accounting fraud in U.S. corporate history, leaving thousands of investors empty-handed.
A federal jury in Manhattan deliberated eight days before dismissing Ebbers’ testimony that he knew nothing about the details behind the $11 billion securities fraud, which drove the company into the nation's largest corporate bankruptcy in 2002.
The jury convicted him on all charges — one count of conspiracy, one count of securities fraud and seven counts of false regulatory filings. Ebbers, 63, could face up to 85 years in prison.
It's gonna be fun to watch Lou Dobbs on CNN Moneyline tonight.
A good profile of the Edmonton-born Ebbers.
http://www.msnbc.msn.com/id/7080668/
Cowperson