A Collaboration with the University of Pittsburgh

Appeals court affirms 25-year sentence for former WorldCom CEO Ebbers

[JURIST] A federal appeals court Friday affirmed [ruling, PDF] the securities fraud conviction and 25-year prison sentence [JURIST report] handed down for former WorldCom [MCI/WorldCom website] CEO Bernard Ebbers [JURIST news archive]. Ebbers appealed the 2005 district court determinations, saying the prosecution unfairly blocked three former WorldCom employees from testifying on Ebbers' behalf because, at the time, they were the subject of a criminal probe. Ebbers also argued on appeal before the US Court of Appeals for the Second Circuit [official website] that the 25-year sentence was unreasonably long for a non-violent conviction.

Ebbers was convicted of fraud and conspiracy [JURIST report] in March 2005 in connection with an $11 billion fraud scheme which drove WorldCom into bankruptcy. On Thursday, the Securities and Exchange Commission (SEC) [official website] announced it had reached a settlement [JURIST report] with former WorldCom accountant Scott Sullivan and six others for their roles in fraudulent adjustments and entries in WorldCom's books and records. AP has more.

About Paper Chase

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 format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.