WorldCom: Disconnected

Stewart Hamilton and Alicia Micklethwait

Chapter Chapter 4 in Greed And Corporate Failure, 2006, pp 59-80 from Palgrave Macmillan

Abstract: Abstract CEOs around the world slept less easy after 13 July 2005 when Bernard J. Ebbers, founder and former chief executive of WorldCom, was sentenced to 25 years in prison for orchestrating the biggest corporate fraud in US history. For the 63-year-old Ebbers, a man in poor health, this – as the judge acknowledged – was effectively a life sentence. Coming hard on the heels of the tough sentences handed down to John Regas, the 80-year-old founder of Adelphi Communications (15 years), and his son Timothy (20 years) for the fraud in that company, it demonstrated clearly the US government’s determination to crack down on white-collar crime

Keywords: Audit Committee; Share Price; Interim Report; Internal Audit; External Auditor (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50275-8_4

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DOI: 10.1007/978-0-230-50275-8_4

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