WorldCom's Ebbers Loses Bid To Scrap Conviction

Law360, New York (July 28, 2006, 12:00 AM EDT) -- Former WorldCom Inc. chief executive officer Bernard J. Ebbers lost his bid Friday to have his conviction overturned, one year after being sentenced to 25 years in jail for his role in the securities fraud that brought down the company.

"The methods [Ebbers] used were specifically intended to create a false picture of profitability even for professional analysts that, in Ebbers' case, was motivated by his personal financial circumstances," said Judge Ralph Winter of the U.S. Second Circuit Court of Appeals in his decision. "Given Congress'...
To view the full article, register now.