BP Editors
As the founder and CEO of WorldCom, a telecommunications giant, Bernard Ebbers was sitting pretty – until he brought down his own company thanks to his own corrupt practices and was sentenced to 25 years in prison. Ebbers was convicted of committing accounting fraud to the tune of $11 billion dollars, lying to his investors to keep the struggling company afloat. Ebbers made TIME’s list of crooked CEOS, where it was noted that WorldCom went deeply into debt after the company made a series of acquisitions that made it financially insolvent. TIME also stated that the Securities Exchange Commission investigated $400 million that WorldCom had loaned Ebbers.
