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by Rahul 16 Dec 2008, 09:25
Bernard Ebbers, the former CEO of WorldCom, was found guilty in March 2005 for his role in the huge accounting scandal that led to the largest bankruptcy in US history at that time. A federal jury in New York, on its eighth day of deliberations, convicted Ebbers on all nine counts that he helped mastermind a $11-billion accounting fraud at WorldCom, now known as MCI.
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Ebbers, 63, had been charged with one count of conspiracy, one count of securities fraud and seven counts of filing false statements with securities regulators.