Witness Links Ebbers to Fraud at WorldCom
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A witness for the prosecution against Bernard Ebbers, former chief of WorldCom, directly connected Mr. Ebbers to the accounting fraud that brought down the company.
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The trials of former WorldCom chairman Bernard J. Ebbers and former Tyco chairman L. Dennis Kozlowski get underway this week, beginning a new round of courtroom confrontations over events that helped write the emphatic end to last decade's investment boom.
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By Dane Hamilton and Justin Hyde WASHINGTON/NEW YORK  - Federal regulators have launched an investigation into creditor actions in the WorldCom bankruptcy, demanding thousands of documents from bondholders related to the largest U.S. bankruptcy, according to court documents.
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Former Worldcom boss Bernie Ebbers says his ignorance of accounting meant he did not see the $11bn fraud that broke the company.
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The superlatives, firsts and continuing fights over WorldCom are a big reason that the Bernard Ebbers trial is being called the granddaddy of all fraud cases.
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Another former top HealthSouth Corp. executive was indicted Thursday for what prosecutors say was his part in a massive fraud as jurors at Richard Scrushy's trial watched a video of the former CEO exhorting, cajoling and warning hundreds of employees at a 1998 meeting.
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For the governmentÂs star witness in its case against Bernard J. Ebbers, the former chief of WorldCom, last weekÂs court appearance may seem like a breeze compared with the cross-examination he faces this week.
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The former finance chief of WorldCom testified yesterday that the company called off 2001 merger talks with Verizon after he and chief executive Bernard Ebbers worried Verizon would discover WorldCom had cooked its books.
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Bernie Ebbers' second-in-command claims the former WorldCom boss told him to cook the firm's books.
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In the recent annals of corporate fraud, the names Enron, Tyco and WorldCom ring the loudest. But for residents of Topeka, Kan., the former leaders of the local utility company have become just as infamous.
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Former WorldCom CEO Bernard Ebbers, accused of leading the biggest accounting fraud in US history, must stand trial in New York, not Mississippi where he lives and the company was based.
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The highlights of David F. Myers's second day on the stand helped support prosecutors' allegations that Ebbers not only knew about billions of dollars in accounting fraud at WorldCom but also orchestrated it -- in part to protect his personal fortune.-The Washington Post
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Former WorldCom Inc. chief Bernard Ebbers orchestrated an $11 billion accounting fraud and then told "lie after lie after lie" about the telecommunication company's crumbling finances to protect its stock price and his own personal fortune, a prosecutor said yesterday in opening statements at Ebbers's trial.
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CA's former head of worldwide sales will pay for his part in a major fraud scheme at the software company.
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NEW YORK, Jan. 11 -- In an unusual legal move, a group of Wall Street banks has challenged the settlement announced last week between 10 former WorldCom Inc. directors and plaintiffs in a class-action shareholder lawsuit filed after WorldCom collapsed into bankruptcy court in 2002 following charges of widespread accounting fraud.
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Former WorldCom Inc. Chief Executive  Bernard Ebbers, informed that accountants would have to inflate  revenue to meet profit expectations, brushed off the warning  and demanded the company "hit our numbers," according to  testimony from the fraud trial's star witness on Tuesday.
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Court documents show federal prosecutors have told lawyers for former WorldCom Inc. chief executive Bernard J. Ebbers that they plan to argue he lied about the telecommunications giant's financial condition in order to get personal loans. -The Washington Post