Inside the WorldCom Scam: With Stacy Keach, Bernard Ebbers, Alison Heruth-Waterbury, Joseph Medawar. Of far more importance, it is a reminder of the lessons learned relating to the board's role in assuring a corporate culture in which the internal legal function is respected, influential and . He was born May 27, 1985, to Chester Lamar Williams and Robbie, The funeral service for William Ronnie Sundown Thomas will be 2 p.m. Thursday, February 9th, at Charity Baptist Church, with, A graveside service will be held for Mrs. Barbara Jordan Smith, Monday, February 6, at Friendship Baptist Church Cemetery. Bernard Ebbers was 78. [5] His family were devout Christians. The Ebbers family is seeking letters from friends and family on the prisoners behalf. ", "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. Bernard John Ebbers was born on Aug. 27, 1941, in Edmonton, Alberta, to John T. and Kathleen Mary (Ellen) Ebbers. Sid Salter: Mississippi Coming Full Circle on Unwi New Skilled Pediatric Nursing Facility Coming to UMMC, Presenting the Mississippi State Capitol (Video). She filed for divorce on April 16, 2008, less than two years after he entered prison. [24][25], Ebbers blamed the accounting scandal on his subordinates. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. Finally, we will forever be thankful for the compassion and courage shown by Judge Valerie Caproni in releasing Dad to us. Federal prosecutors say 78-year-old former WorldCom CEO Bernie Ebbers may not be in as bad physical shape as indicated in court filings seeking his early release from prison due to health concerns. From 1992 to 1995, LDDS renamed WorldCom in May 1995 bought corporations that expanded its service capabilities. Editorial: The airport belongs to Jackson. Kelly arrested for taking pics of Rose Cochran, PERS gets mo' money but funding level falls, Majority black public school districts spend more, waste more, fail more. Many also wrote in support of release. Feb 3 - 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. Bernie Ebbers was sacrificed unjustly so politicos could grab a few headlines. His father was a traveling salesman and a mechanic, and his mother was a homemaker. 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. As part of his departure, his loans were consolidated into a single $408.2 million promissory note. Im not an engineer by training; Im not an accountant by training - all those types of specialized skills, he told the New York Times in 1998, which interviewed him on his 130-foot yacht, Countach. The . Bernie was born on August 27, 1941, and was 78 years old at the time of this death. Rest in Peace, your rewards are yours for Eternity!!! In October, Dad experienced a rapid decline and was transferred to a unit with 24-hour nursing care. Ebbers was 78. Feb. 3, 2020 3:56 am ET. Former Worldcom CEO Bernie Ebbers dies at 78. If you are willing to write, please email by Thursday, Nov. 14. Ebbers, 78, is locked up in a federal medical facility in Fort Worth, Texas, and has served more than half of a 25-year sentence. In lieu of flowers, please consider giving to Casa de FE via Hope Extended. Brookhaven - Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. Sign up for free newsletters and get more CNBC delivered to your inbox. Under Ebbers, WorldCom's $9 billion accounting fraud grew in order to avoid facing its worsening economic reality. Theyalsoloved Brookhaven and its people wherehe had a passion for leading Sunday school. He is being held at the prison medical center in Fort Worth, Texas. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. [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. Ebbers, 78, is locked up in a federal medical facility in Fort Worth, Texas, and has served more than half of a 25-year sentence. Ebbers became a businessman, and had amassed a small chain of motels by 1983, when he and other entrepreneurs came up with the idea for LDDS. [42][43], At his peak in early 1999, Ebbers was worth an estimated $1.4 billion and listed as 174th on the Forbes 400. 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 . One analyst cited in an early profile in the late nineties said Bernie Ebbers was "the telephone equivalent of Bill Gates." . He was hospitalized multiple times in November and December, yet there was still no diagnosis or proactive treatment plan. But he maintained ignorance of details. His daughter, in a court filing, said he was "experiencing full-blown dementia.". Ebbers was convicted by a Manhattan jury in March 2005 for orchestrating the fraud, and was found guilty of securities fraud, conspiracy and other crimes. Former WorldCom CEO Bernie Ebbers seeks early release from prison. All quotes delayed a minimum of 15 minutes. Bernie invested in people's livesandthefingerprintsofhischaritycontinue to enduretodayonmany. All rights reserved. Court papers say a Bureau of Prisons official . In 2013, Portfolio.com and CNBC named Ebbers as the 5th-worst CEO in American history. [9], In 1983, in a coffee shop in Hattiesburg, Mississippi, he and 3 other investors formed Long Distance Discount Services, Inc. and in 1985, he was named chief executive officer. Bernie Ebbers' early release from prison should be noted by corporate boards not simply as a generous and empathic exercise of judicial discretion. In 1968, Ebbers married Linda Pigott and the couple raised three daughters. Ebbers has served about 13 years of his 25-year sentence for orchestrating the $11 billion accounting fraud by the defunct telecommunications company. One analyst cited in an early profile in the late nineties said Bernie Ebbers was "the telephone equivalent of Bill . Grow your brand authentically by sharing brand content with the internets creators. . [14], Between September 2000 and April 2002, the board of directors of Worldcom authorized several loans and loan guarantees to Ebbers so that he would not have to sell his Worldcom shares to meet margin calls as the share price plummeted during the bursting of the dot-com bubble. WorldCom's roots stem from a Mississippi telecom company called LDDS where Ebbers was CEO. Boards are the best place to save images and video clips. Former WorldCom CEO Bernie Ebbers is requesting to be released from prison early due to health issues. Emails should be brief, citing the reason for writing and relationship to Ebbers. Bernard John Ebbers was born on August 27, 1941 in Edmonton, Canada. A jury finished its second day of deliberations in . On September 5, 2019, Ebbers filed a motion with the . Bernard "Bernie"J. Ebbersran into the arms of Jesuson February 2, 2020, surrounded by his family in Brookhaven, Miss. We are especially grateful for the team that helped us secure his release, and particularly Graham Carner, our attorney. 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. 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. The name changed to MCI WorldCom after the MCI purchase, and later back to WorldCom. 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. 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. So, ex-WorldCom CEO Bernie Ebbers died on Sunday at age 78. Ebbers, 78, is locked up in a federal medical facility in Fort Worth, Texas, and has served more than half of a 25-year sentence. With good behavior, he is scheduled for release in 2028. Judge Caproni will be soon deciding my fathers fate. one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal . Ebbers qualifies due to his age, time served and his current medical condition. "In the calls, he was alert, aware and oriented to person, place, time and situation," the psychologist is quoted as saying, adding that Ebbers was asking about his daughter's efforts to get him out of prison. [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. Bernie Ebbers, the convicted former chief of telecoms company WorldCom, has died Bernie Ebbers, ex-CEO convicted in WorldCom scandal, dies - The San Diego Union-Tribune I know many of the victims of WorldCom opposed Dads release. . SOROS BUYS FARM; EBBERS GOES TO JAIL. [15][16][17] In 2003, Ebbers defaulted on the note and Worldcom foreclosed on many of his assets. Bernie Ebbers former CEO of Worldcom leaves Manhattan Federal Court accompanied by his wife Kristie and some of his daughters as the jury plans to. Dispatch From Pelahatchie (Grinch Edition), Domino's Says No Night Service to North Jackson, Clinton Catches Second Burglary Ring Suspect, "We Could Literally Hire 100 Technicians", The Rest of the Story, Part II (Annandale Edition), Justice Department Stands Up for Free Speech. While the emails should be addressed to Wendy.Olsen@usdoj.gov, they should be directed to Honorable Judge Valerie Caproni. 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