Accessibility links

Breaking News

Former WorldCom CEO Sentenced to 25 Years

Bernard Ebbers, right, leaves Manhattan federal court with his wife Kristie after being sentenced for his role in the collapse of WorldCom
Former WorldCom chief executive Bernard Ebbers has been sentenced to 25 years in prison for his role in an $11 billion fraud scheme that led to the largest bankruptcy in American history.

The 63-year-old Ebbers was found guilty of inflating the company's earnings and hiding WorldCom expenses to fool investors and lenders in 2000.

On Tuesday, a federal judge in Manhattan denied his bid for a retrial.

Some 20,000 employees lost their jobs and $600 million in pensions were eliminated when the giant telecommunications company folded in 2002.

Some information for this report provided by Reuters.