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", "Worldcom to Buy MFS for $12 Billion, Creating a Phone Giant", "WorldCom quarterly report for the quarter ended March 31, 2002", "Worldcom, Inc. 2002 Form 10-K Annual Report", "Top 10 CEO Scandals: Bernie Ebbers, WorldCom", "Bernie Ebbers Wants To Reach Out And Touch Everyone", "Ex-WorldCom CEO Ebbers wants sentence commuted", "Ebbers' luck runs out in sweeping victory for feds", "Bernard Ebbers, WorldCom CEO convicted in historic fraud scandal, dies at 78", "U.S. charges ex-Worldcom CEO Bernard Ebbers", "Ebbers signs agreement on Oklahoma charges", "Ebbers signs agreement with Oklahoma AG", "Appeals court upholds Ebbers conviction", "What life will be like for Ebbers behind bars", "Bernard Ebbers Reports to Prison in Louisiana", "WorldCom investors to get $6bn and Ebbers's house", "Convicted former WorldCom CEO Ebbers dead at 78", "Bernie Ebbers, WorldCom fraudster, dead at 78", "Ebbers' high-risk act came crashing down on him", "Many Mississippians Continue To Support WorldCom's Ebbers", "President Bush to Announce Several Individuals to Serve in his Administration", White House Office of the Press Secretary, https://en.wikipedia.org/w/index.php?title=Bernard_Ebbers&oldid=1138543435, Mississippi Business Hall of Fame (May 1995), This page was last edited on 10 February 2023, at 07:02. [15][16][17] In 2003, Ebbers defaulted on the note and Worldcom foreclosed on many of his assets. Mark Madoff, one of Bernard Madoff's sons, was found dead of an apparent suicide on Dec. 11, 2010. There's been some fascinating detail pouring out of a New York courthouse during the trial of Bernie Ebbers, the former CEO of WorldCom Inc. Ebbers, of course, is on trial for charges of . Caproni, who serves in the, Mississippis Mayo Lab working to combat student mental health crisis, It isnt a leap year, but $272,000 lottery win had Mississippi ticket holder jumping for joy on last day of February, Three inmates slip out of handcuffs at Mississippi truck stop, back in custody after overnight manhunt, Drug round nets six arrests for Mississippi narcotics agents Friday. 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In addition to asking for any tests as to whether Ebbers was malingering, or faking his memory loss, the judge asked for information on Ebbers' rapid weight loss the former bouncer has reportedly withered to around 160 pounds. However, the BOP had no diagnosis or treatment plan in place. After we have had some time to grieve and heal, we intend to use this experience and our voice to advocate for those like Dad who are deserving of compassionate release to their families. A jury finished its second day of deliberations in . He is survived by Linda Ebbers,daughters Ave Easley (David), Treasure Ebbers Beeson (Dwayne), Joy Ebbers Bourne, Faith Ebbers Gates (Michael); grandchildren Nathanael Easley, Rachel Easley,GabryelleEasley; Jordan Beeson Stewart (Jacob), Jonathan Beeson, Juliana Beeson; Truett Bourne. The Ebbers family released a statement thanking Judge Valerie Caproni, as they got to spend Bernies final days with him: On behalf of the Ebbers family, I want to express our sincere gratitude to Judge Valerie Caproni for her truly compassionate decision to release Dad from prison in December. A Division of NBCUniversal. NEW YORK (CNN/Money) - Ex-WorldCom chief executive Bernard Ebbers was sentenced Wednesday to 25 years in prison for his role in orchestrating the biggest corporate fraud in the nation's history . In turn, he has been rewarded for his success. Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. his side for the last weeks of his life here on earth. Even Barbara Jones, the federal judge who imposed Ebbers prison sentence, thought early release was appropriate. Get this delivered to your inbox, and more info about our products and services. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. SOROS BUYS FARM; EBBERS GOES TO JAIL. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. Bernie began as a coachand took that approach inevery aspect of life. Our Standards: The Thomson Reuters Trust Principles. His father was a traveling salesman and a mechanic, and his mother was a homemaker. Ponzi scheme king Bernie Madoff, who bilked investors out of billions, seeks medical release from prison . NEW YORK - MARCH 7: Carly (L) and Kristie (R) Ebbers, the daughter and wife, respectively, of Bernie Ebbers, former chief executive officer of WorldCom, take a break from federal court March 7, 2005 in New York City. Grow your brand authentically by sharing brand content with the internets creators. Former WorldCom CEO Bernie Ebbers is requesting to be released from prison early due to health issues. [47], In 1997, he became the chair for Mississippi College's New Dawn Campaign, a $100 million fundraising campaign to improve campus facilities. Bernie invested in people's lives and the fingerprints of his charity continue to endure today on many. In 2002, the Mississippi-based company admitted to improperly reporting $3.8 billion in expenses, prompting Justice Department to open a criminal investigation into its . Got a confidential news tip? Bloggerized by Zona Cerebral and GirlyBlogger, Mayhem & Destruction in Brandon (Updated), Jackson interest-rate swaps/refinance of bonds, Monday Morning Edition of Friday Night Fights, Insurance Commissioner: Be Careful w/ Fireworks. According to court papers, Ebbers had become legally blind, had fallen several times, was easily disoriented, and needed help to walk, eat and groom himself. My family and I are thankful for the time that we had to be with and care for Dad in his final days. His death wasn't a complete shock; I saw recently that he was in ill health and was granted an early release from prison after serving 13 years of his 25-year sentence for securities fraud, conspiracy, and filing false reports with regulators.. My mom used to work for MCI, which eventually became WorldCom, in the mid-1990s until she . By Martin Wolk. But he maintained ignorance of details. The . Ebbers remained on the prowl, announcing a $129 billion merger with Sprint Corp in October 1999, only to have regulators block that tie-up. See here for a complete list of exchanges and delays. On April 26, Worldcom's board voted unanimously to demand that Ebbers resign, which he formally did on April 30, 2002. Ebbers health was in decline by the time he sought early release from prison under a federal law allowing some older prisons to obtain freedom sooner. Caproni, a judge on the U.S. District Court for the Southern District of New York, had given the government until Monday to supply the additional medical data, most of which were filed under seal. Friends and family areencouraged to dress"Bernie casual.". The Ebbers family is especially grateful to have been by. (WLBT) - Bernie Ebbers died Sunday at the age of 78. Castellano said an abdominal ultrasound performed late last month found "no definitively worrisome or sonographically acute findings," but further tests are scheduled next month. and they participated in mission work for years. The response, which notes that cognitive issues have not been the focus of Ebbers' legal motion, cites other parts of his medical records that Carner says demonstrate Ebbers "has a substantially diminished ability to provide self-care in prison.". He was convicted of securities fraud and other charges for his role in one of the largest corporate accounting scandals in U.S. history in 2005. In October, Dad experienced a rapid decline and was transferred to a unit with 24-hour nursing care. Bourne asked that letter writers not complain about the trial or the sentence, but focus only on bringing him home because of his age and poor health. According to a 2009 Time article, Ebbers turned WorldCom into the nations second-largest long distance telecommunications company through a series of rapid acquisitions that left it heavily in the red. [23], The figure eventually grew to $11 billion. . Ebbers began to serve this term of imprisonment on September 26, 2006. My family and I continue to pray for everyone affected by the fall of WorldCom. He is currently on his 13th year of a 25-year prison sentence. Bernie never stopped teaching others about the Lord, leading his family, and spreading the love of Christ, no matter his circumstances. Bernard John Ebbers was born on Aug. 27, 1941, in Edmonton, Alberta. WorldCom Inc. collapsed and went . In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Bernard John Ebbers (August 27, 1941 February 2, 2020) was a Canadian convicted fraudster, businessman and the co-founder and CEO of WorldCom. Ebbers was convicted in New York in 2005 on securities fraud and other charges and received a 25-year sentence. Many stockholders and employees lost their investments in the fall of WorldCom. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Court papers say a Bureau of Prisons official . He became CEO two years later, and the company changed its name to WorldCom in 1995. one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal . Court papers say a Bureau of Prisons official . [5], After high school, Ebbers briefly attended the University of Alberta and Calvin College before enrolling at Mississippi College on a basketball scholarship. Visitation, Services for Mrs. Donna Lynne Ratcliff Cupit is 11:00 am, Saturday, February 4, 2023, at Riverwood Family with visitation from, Mr. Tommy Gene Puckett, 68, of Magnolia, MS, died January 28, 2023, in McComb, MS. Judge Caproni will be soon deciding my fathers fate. NEW YORK - MARCH 7: Carly (L) and Kristie (R) Ebbers, the daughter and wife, respectively, of Bernie Ebbers, former chief executive officer of WorldCom, take a break from federal court March 7, 2005 in New York City. He will always be remembered by me as a man that stood for what was right all the way to the end. The name changed to MCI WorldCom after the MCI purchase, and later back to WorldCom. [24][31] On May 25, 2004, federal prosecutors increased the list of charges to 9 felonies: 1 count each of conspiracy and securities fraud, and 7 counts of filing false statements with securities regulators. We ask that the familys privacy be respected at this time, and we covet your prayers. March 15, 2005, 9:26 AM PST / Source: msnbc.com. When my sisters and I began our efforts to see our father released from prison, we watched as a 64, 220-pound man continued to lose weight without explanation and his physical and mental condition deteriorated. The chief financial officer was fired. His mom was a homemaker. Bernie invested in people's livesandthefingerprintsofhischaritycontinue to enduretodayonmany. [35] On September 6, 2006, the presiding judge ordered him to report to jail on September 26 to start serving his 25-year sentence. [30] On March 2, 2004, federal authorities indicted Ebbers with security fraud and conspiracy charges. [12][13] In July 2000, it abandoned its planned $115 billion acquisition of Sprint Corporation after U.S. and European Union antitrust regulators raised objections. The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in U.S. history, died just over a month after his early . [2] In December 2019, Ebbers was released from Federal Medical Center, Fort Worth, due to declining health, having served 13 years of his 25-year sentence, and he died just over a month later. Former WorldCom CEO Bernie Ebbers seeks early release from prison. (Photo by Angela Jimenez/Getty Images). His personal holdings included:[44], From 1993 through 1995, Ebbers served as chairman of the board of directors of the Competitive Telecommunications Association, where he pleaded with the United States Congress to improve competition with the incumbent telecommunications companies. He and Linda loved basketball and raising their daughters. 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