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Justices Turn Down Appeal By EbbersThe Supreme Court yesterday rejected an appeal by Bernard J. Ebbers, the former WorldCom chief executive, who was convicted of orchestrating an $11 billion accounting fraud that led to the largest United States bankruptcy. Mr. Ebbers was convicted in 2005 by a federal jury in New York on nine counts of conspiracy, securities fraud and other crimes that led to the telephone company’s bankruptcy in July 2002. He was sentenced to 25 years in prison. In appealing to the Supreme Court, lawyers for Mr. Ebbers argued that the trial judge should have required the government to grant immunity to several prospective defense witnesses. They also argued that the trial judge wrongly instructed the jury that it could convict Mr. Ebbers on the basis that he engaged in “conscious avoidance” of the fraud at WorldCom. A federal appeals court in New York rejected the same arguments last year and upheld Mr. Ebbers’s conviction. The Supreme Court justices denied the appeal without any comment or recorded dissent. Mr. Ebbers transformed WorldCom into a telecommunications powerhouse through a string of takeovers. WorldCom emerged from bankruptcy as MCI Inc., which was later acquired by Verizon Communications. Tag CloudExternal InformationAdditional InformationMPC verdict is a seven or eight on the Richter scale...Barclays discloses £1.3bn credit crunch hit... PM holds lead with companies... Senior UBS banker quits for Lazard... Where Am I?News Main Page - Business - Justices Turn Down Appeal By Ebbers |
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