2005 Year in Review: Executives Finally Getting Their Comeuppance
An AP newswire article, via MSNBC, reports that:
The scene said everything about the year in white-collar crime: Bernard Ebbers, the jocular, folksy former boss of WorldCom Inc., hunched forward in a courtroom chair, quietly crying.
He had just been sentenced to 25 years in prison for orchestrating the record $11 billion accounting fraud at the toppled telecom — essentially a life term for a man 63 years old and with a history of heart trouble.
It was a startling punishment, but far from extraordinary in 2005: In the cavalcade of recent corporate scandals, this was the year the hammer finally fell on top executives. Hard.
posted by Fergie @ 12/18/2005 05:50:00 PM
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