Defense Seeks to Show Ebbers Stayed Away From Finances
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WorldCom's former controller testified Monday that he never knew CEO Bernard Ebbers to make an accounting decision as the company slid into a financial abyss and began hiding billions of dollars in expenses to fool Wall Street.
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Lawyers for Bernard Ebbers, the former chief executive of WorldCom, won the right to introduce personal details about the prosecution's main witness.
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Former WorldCom Inc. chief Bernard Ebbers told "lie after lie after lie" about the telecommunications giant's crumbling finances to protect its stock price and his own personal wealth, a federal prosecutor said Tuesday in opening statements at Ebbers' fraud trial.
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BIRMINGHAM, Ala. -- The defense in Richard Scrushy's corporate fraud trial sought to poke holes yesterday in the claims of a key witness who contends the fired HealthSouth chief executive was behind a scheme to overstate earnings.
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The former U.S. occupation chief in Iraq on Tuesday defended the way he haphazardly doled out billions of dollars in Iraqi funds after the U.S. invasion as Democrats began a two-year effort to scrutinize fraud, waste and abuse under the Bush administration.
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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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Securities regulators are planning sanctions against a company that sold high-fee mutual funds to military officers, sources familiar with the situation said Friday. Some big fund companies said they may reconsider the "contractual plan" funds.
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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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The defense blames any inconsistencies in his accounts on memory blur rather than an intent to deceive.
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Congress' watchdog should  investigate how financial products are sold on military bases,  two senators urged on Wednesday, after reports some insurers  and mutual fund companies target soldiers with pricey,  questionable products.
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Defense lawyers for the man convicted in the 1988 murders of racing legend Mickey Thompson and his wife want a new trial, saying they were unfairly barred from presenting evidence about other possible suspects.
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Two WorldCom Inc. accountants agreed  to cover up $800 million in expenses only after learning that  Chief Executive Bernard Ebbers refused to warn investors that  profits were worse than expected, they testified at Ebbers'  fraud trial on Wednesday.
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(Redwood City, California-AP) Oct. 26, 2004 - Scott Peterson&#39;s defense team could rest its case on Tuesday. Monday his lawyer called on Peterson&#39;s mother to try to explain why he had nearly $15,000 in cash on him when he was arrested.
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Military service may insulate candidates from 'weak on defense' charges.
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The attorney for a former White House aide told Congress on Saturday he expects the Bush administration to try to block the aide from testifying on last year's firings of U.S. prosecutors, as the White House and Congress appeared headed for a court battle.
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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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A federal judge Tuesday delayed the trial of former WorldCom chief executive Bernard Ebbers until January, granting his lawyers more time to prepare their defense.