hrmmm.

[lagilman]

WorldCom's Founder to Surrender His Fortune

By GRETCHEN MORGENSON
Published: June 30, 2005

Bernard J. Ebbers, the founder and former chief executive of WorldCom who was found guilty of fraud by a New York jury in March, agreed today to surrender nearly all of his approximately $40 million personal fortune to investors who lost billions of dollars when the telecommunications company spiraled into bankruptcy almost three years ago.

MCI, the successor company to WorldCom, which emerged from bankruptcy in April 2004, will also share in the restitution provided by the sale of Mr. Ebbers's assets, although the company stands to receive nowhere near the roughly $400 million it is owed by him.

rest of the article is here



In other news, it continues warm and humid, with occasional reminders of deadline and intermittent sightings of monies owed. Yay for publishers that pay, even if not always in a timely manner...

Comments

Drop in the bucket

[shadowhelm.livejournal.com]

But he deserves it. Given what the employees of MCI/Worldcom have been through.

Re: Drop in the bucket

[lagilman]

Oh, no denying... I think this is the punishment they should be handing down, not jail terms. Strip 'em all back down to minimum wage employees, dependent on some other honcho's morality, and see how they feel then...