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A collection of news and information related to WorldCom Incorporated published by this site and its partners.
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Sarbanes, Edwards say jobs bill hurts transparency
Two Maryland Democrats who opposed a jobs bill that won House approval this week said Friday they voted against the measure because it would roll back regulations intended to protect investors, including those created under the landmark and...Tags: Prince George's County, Harry Reid, U.S. Senate, Democratic Party, John P. Sarbanes
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No verdict at Ebbers trial after 2nd day of deliberations
Bloomberg NewsNEW YORK - A federal jury ended its second day deliberating accounting-fraud charges against former WorldCom Inc. Chief Executive Officer Bernard J. Ebbers without reaching a verdict yesterday. Ebbers is accused of leading an $11 billion fraud that drove...Tags: New York City Transit, Fraud, Judges, Bankruptcy, Verizon Communications
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CEOs find that pay is now tied to results
Sun StaffAt first glance, Nolan D. Archibald might seem like a perfect example for critics of runaway executive pay. The chief executive of Black & Decker Corp. pulled in a base salary of nearly $1.5 million and a bonus of $3 million last year while...Tags: Retirement, Earnings, Aon PLC, Ted White, Bankruptcy
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Sullivan given 5-year term in WorldCom case
Sun StaffIf putting WorldCom Inc.'s head honcho Bernard J. Ebbers in prison for perhaps the rest of his life sends a message to Corporate America to clean up its act, legal experts say the lighter sentence handed down yesterday to his right-hand man, Scott...Tags: Columbia University, Court Preliminary, Fraud, Judges, Insider Trading
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Ebbers denies knowledge of earnings alert
Bloomberg NewsNEW YORK - Former World Com Inc. Chief Executive Officer Bernard J. Ebbers denied yesterday that he was told by his finance chief that the company had to issue an earnings alert, then admitted asking a lawyer about the subject days later. In the second...Tags: Fraud, Bank of America Corp., Stock Market, Finance, Prosecution
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Judge tentatively OKs sale of ex-WorldCom CFO's home
Associated PressNEW YORK - A federal judge gave her blessing yesterday to a deal in which former WorldCom finance chief Scott Sullivan will forfeit his ornate $11 million Florida mansion and his retirement account to settle with investors who lost billions when the...Tags: Homes, Retirement, Fraud, Judges, Bankruptcy
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Judge denies motion for new trial by Ebbers
From Wire ReportsNEW YORK - A federal judge has denied a bid by former WorldCom CEO Bernard L. Ebbers for a new trial, paving the way for him to be sentenced today in the record $11 billion fraud. Ebbers had argued that the judge or prosecutors should have granted...Tags: Fraud, Judges, Prosecution, Lawyers, Punishment
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Ex-chief Lay indicted in fall of Enron
Sun StaffThe federal government's 2 1/2 -year investigation into the collapse of Enron Corp. reached the top of the shattered energy company's boardroom yesterday, as former Chairman and CEO Kenneth L. Lay was indicted on criminal charges related to the company'...Tags: Fraud, Court Preliminary, Criminal Laws, Insider Trading, Trials
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Ex-WorldCom directors may remain part of suit
Associated PressNEW YORK - Ten former WorldCom Inc. directors who agreed to pay $18 million of their own money to settle claims from angry investors will remain defendants in the class action lawsuit for now. U.S. District Judge Denise Cote of Manhattan declined...Tags: Insurance, Defendants, Fraud, Judges, Prosecution
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U.S. to seek life term for Ebbers, ex-CEO of WorldCom
From Wire ReportsNEW YORK - Federal prosecutors want former WorldCom boss Bernard J. Ebbers to go to prison for the rest of his life, and have urged a federal judge to brush off his pleas for leniency. In court papers made public yesterday, the government encouraged U.S....Tags: History, Fraud, Judges, Criminal Laws, Prosecution
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Side deals raise ethical issues
Sun StaffExecutives and board members at some of Maryland's most profitable companies have lucrative side arrangements with the companies they run and oversee. Edwin F. Hale Sr., the chairman, chief executive and largest stockholder at First Mariner Bancorp,...Tags: Fraud, First Mariner Bancorp, Public Relations, Contracts, Gaming
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Ebbers jury can ignore supplemental charges
Associated PressNEW YORK - A federal judge told jurors in the trial of former WorldCom chief Bernard J. Ebbers yesterday that they did not have to consider supplemental charges by prosecutors to convict him. The judge issued the instruction after jurors, during their...Tags: Fraud, Judges, Prosecution, Local Government, Lawyers
Mar 9, 2012
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May 15, 2005
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Mar 10, 2005
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