Former WorldCom CEO Ebbers Found Guilty of Fraud

Court

Former WorldCom CEO Bernard Ebbers, right, and his wife Kristie leave court in New York City following the verdict, March 15. Reuters hide caption

itoggle caption Reuters

A federal jury in New York finds Bernard Ebbers, former chief executive of WorldCom, guilty on all charges Tuesday. An $11 billion accounting scandal at the telecommunications giant forced it to declare bankruptcy.

The jury deliberated for eight days before convicting Ebbers of conspiracy, securities fraud and seven counts of filing false documents with the Securities and Exchange Commission. Sentencing is scheduled for June 13, and the 63-year-old Ebbers may face jail time. Ebbers' attorney said his client would appeal the verdict.

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