TELECOM Digest OnLine - Sorted: Re: Former WorldCom CEO Guilty on All Counts

Re: Former WorldCom CEO Guilty on All Counts

hancock4@bbs.cpcn.com
16 Mar 2005 09:51:35 -0800

Lisa Minter wrote:

> A federal jury in Manhattan returned guilty verdicts on all nine
> counts, including securities fraud, conspiracy and lying to
> regulators; a decision that could send Ebbers, 63, to prison for the
> rest of his life. Sentencing was set for June 13.

He clearly deserves prison. As CEO, understanding the overall
finances of his company was a very basic legal responsibility.

I don't know where that guy went to school, but my basic
accounting classes they made it quite clear that falsifying
the books was a serious crime, that managers had a responsibility
to understand their records, and how to understand a financial
statement.

Does anybody out there think he -- or others convicted in stock fraud
-- got a raw deal?

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