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Ebbers seeks pardon


Posted: 12/05/08 - 11:20:27 am CST

JACKSON (AP) — Former WorldCom CEO Bernie Ebbers has asked President George W. Bush to shorten his 25-year sentence.
U.S. Justice Department spokeswoman Laura Sweeney said Thursday that Ebbers applied for the commutation recently and “it is under consideration.”

Ebbers was convicted of fraud and conspiracy in 2005 for his role in the $11 billion accounting scandal that forced WorldCom into bankruptcy, wiping out those who had invested in the Clinton-based telecommunications company.

The case was billed as one of the largest accounting frauds in history.

Ebbers appealed his lengthy sentence, but a judge ruled the former CEO played a substantial role in bilking investors and left the penalty intact.

The CEO helped build the company into a success story with 90,000 employees and reported revenues of $39 million by 2000.
Prosecutors argued during Ebbers’ trial that he played a lead role in the scheme to prop up the company’s stock price as it began to tumble during the dot-com decline.

Ebbers had a personal stake in the dropping price. He had used company stock as collateral to borrow $400 million to finance other ventures, including a ranch, timberland and a yacht-building company.

His attorneys argued on appeal that Ebbers’ sentence was far too steep when compared to other white-collar crimes. They noted other WorldCom officials sentenced in the fraud case received sentences of five months to five years.

The judge ruled that as CEO Ebbers had “primary responsibility” for the fraud, and that unlike other company officials, he chose to go to trial rather than plead guilty and cooperate with prosecutors.
The Justice Department Web site says to qualify for commutation, Ebbers must have exhausted his appeals opportunities and must be serving his sentence. Officials will now investigate whether Ebbers qualifies for a commutation, which is not an act of forgiveness like a pardon.

Ebbers, a former Brookhaven resident, is in a federal prison in Oakdale, La.


Let us know what you think about this story or topic.



J wrote on Dec 24, 2008 10:55 PM:

" If Bush lets him out one day early it will be unjustified. Ebbers deserves every second he spends in prison and more.

Regardless of the amount of time he spends in there it will never make up for all which was lost through his selfish actions.

As a daughter of someone who lost their job because of this scandel I'd like to see Ebbers rot for life. "

shame if he does wrote on Dec 7, 2008 12:44 PM:

" Shame on Bush if he grants. There are thousands that lost huge sums of money to fill his pockets. Many more lost family due to hardships this caused. Let him ROT. "

Shadith wrote on Dec 6, 2008 9:07 AM:

" Let's see....Ebbers made his business look good when it was really tanking badly, and this cost thousands of people millions of dollars. For this he was sentenced to 25 years in prison. Here's my question: when are we going to see the trials of the CEO's of AIG and FannieMae and FreddieMac and all the banks that have gotten us into the current economic hell-hole? When are we going to see th trials of Barney Frank and Chris Dodd, who spoke from positions of authority in Congress, that there was nothing wrong with FannieMae and FreddieMac? All of these people have cost millions of Americans trillions of dollars. When are we going to prosecute them? If we are not going to prosecute them, then we need to let Ebbers go. "

Miss. taxpayer wrote on Dec 5, 2008 6:36 PM:

" I think his sentence should be increased. He broke those who supported him during his start-up and his lied, cheated , and stole their life savings. "

mbjhnstn wrote on Dec 5, 2008 4:50 PM:

" Yes Pardon Bernie.. just as soon as he pays all the money back to people that invested in his company. All the people that have had to find work because all there retirement money was invested with good ol Barney because he was a Christian man..HA HA HA HA HA "

Do the right thing wrote on Dec 5, 2008 3:10 PM:

" Money talk, the more the louder. "

Richard Farnsworth wrote on Dec 5, 2008 2:58 PM:

" Some people are better off in jail...like Mr Ebbers "

Alex Howell wrote on Dec 5, 2008 2:03 PM:

" I pray that Mr. Bush will have mercy and free Mr. Ebbers. "

Dickey wrote on Dec 5, 2008 1:37 PM:

" In the famous words of Col. Potter on "Mash" ~ " Horse Hockey! "
What the Judges need to do is up the anti for so called White Collar Crime! These crooks, not nice men making a " mistake" but outright crooks wipe out 1,000s of people and it's too steep a judgement! Wonder if Ebbers was looked up to by the other CEOs now trying to swindle the taxpayers?
Bush, leave him there! "

no no no wrote on Dec 5, 2008 1:36 PM:

" he stole for hard working americans. I think he should have been charged with millions of counts of theft and put in jail for a long time. I think the 25 years fits the crime and keeps others in his position from trying the same mess. I say leave his rear in jail for all 25 years "

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