BREAKING NEWS ~ Ebbers found guilty in WorldCom fraud trial Bernard Hibbitts at 12:44 PM ET
[JURIST] AP is reporting that former WorldCom chief Bernard Ebbers has been convicted on all counts at his fraud trial.
12:51 PM - Reuters now has a story here. The Manhattan jury found Ebbers guilty of fraud, conspiracy, and filing false documents with regulators. When sentenced June 13 he could face up to 85 years in prison. Review a copy of the original Ebbers indictment [PDF] from March 2004, and the subsequent supplemental indictment [PDF]. In headier days, TIME magazine profiled Ebbers in its Digital 50 of 1999 [Ebbers was #26], offering this (not ironically, at the time) as Ebbers' "Best Line":
I believe God has a plan for people's lives, and I believe he had a plan for me ... You'll see people who in the early days of WorldCom took their life savings and trusted this company with their money. And I have an awesome responsibility to those people to make sure that they're done right.
Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.