Home » OPINION » Columns » MBJ Editorial
Off to court in Oklahoma

MBJ Editorial

Bernie Ebbers, who sat at the helm of the largest corporate collapse in U.S. history, had a day in court last week — Oklahoma court.

The founder and former chief of one time telecommunications giant WorldCom, now operating as MCI, faces a range of criminal charges filed by Oklahoma attorney general Drew Edmondson. Ebbers had an initial court appearance in Oklahoma City September 3rd.

The AG’s complaint alleges Ebbers and WorldCom broke state securities laws.

“It is rare that we name a company in a criminal complaint, but in this case it is justified,” Edmondson told reporters. He explained that WorldCom’s $11-billion implosion had cost the state’s pension fund some $64 million.

While the disintegration of WorldCom left millions of unfortunate shareholders in poor shape and a thirst for justice, even revenge, is understandable, Oklahoma’s recent action only complicates the ongoing federal investigation into the company and its executives.

A reckoning for this sorry mess is coming, but it should be left in the hands of federal investigators and prosecutors, not the individual states.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Staff Writer

Leave a Reply