Bernard Ebbers, WorldCom: GUILTY
NEW YORK, March 15 -- Former WorldCom Inc. chief executive Bernard J. Ebbers was found guilty Tuesday on all counts against him of conspiracy, securities fraud and false regulatory filings for his role in a massive accounting fraud that led to the downfall of the nation's second-largest telecommunications firm and cost investors billions of dollars. More at Washington Post ->Guilty on all charges of conspiracy and fraud .. $11B of accounting misstatements. I guess he just thought he would just continue to get the paychecks, and no one would question what was going on with their creative accounting practice. With the bankruptcy, all those workers and investors who lost their retirement nest egg can at least find solace in the guilty verdict.
Poor Mike Capellas, ex-CEO of Compaq (re: HP-Compaq), has to come in to clean up the mess that Ebbers created and left behind. More at Business 2.0 ->
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