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Tag Archives: WorldCom

Bernie Ebbers, ex-CEO convicted in WorldCom scandal, dies

The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in U.S. history, died just over a month after his early release from prison. Bernard Ebbers was 78. The Canadian-born former telecommunications executive died Sunday in Brookhaven, Mississippi, surrounded by his family, according to a family statement. WorldCom Inc. collapsed and went into bankruptcy in 2002, ...

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REPORTER’S NOTEBOOK — Ebbers paid the price for greed

Many thought Enron Corp. execs got off relatively easy for all their fraudulence, then came Bernie Ebbers. The public, whose sentiment can influence the courts, felt that it was time to make up for Enron so they slammed Ebbers, the Mississippi-based telecom sensation, and gave him a stiffer sentence for the failure of WorldCom. He got 25 years and lost his half-million-acre ...

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Ebbers granted early release from prison

A federal judge has authorized the release of former WorldCom Inc. Chief Executive Bernie Ebbers from prison after more than 13 years because of his deteriorating health, according to The Wall Street Journal. Judge Valerie Caproni on Wednesday granted one of his daughter’s request for a compassionate release from a federal prison medical facility in Fort Worth, Texas. Court papers ...

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Ailing ex-telecom executive Ebbers seeks release from prison

A former telecommunications executive convicted in one of the largest corporate accounting scandals in U.S. history is asking a judge to shorten his prison sentence so he can be released as his health deteriorates. Bernard Ebbers led WorldCom, once one of the world’s largest telecommunications companies. The Mississippi-based WorldCom collapsed and went into bankruptcy in 2002, causing losses to stockholders, ...

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Cynthia Cooper joins CPT board

Cynthia Cooper of Jackson, CEO of the Cooper Group has been appointed to the board of directors of the NASBA Center for the Public Trust for 2015-16. Cooper was named one of Time Magazine’s Persons of the Year in 2002 after leading the effort to uncover WorldCom’s $3.8 Billion fraud. Cooper now serves as the CEO of the Cooper Group, ...

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Clinton office complex sold for $20.5 million

CLINTON — The Hertz Investment Group is adding to its dominant position in the metro Jackson office market. Hertz, based in Santa Monica, California, announced Friday that it has purchased the South Pointe Business Park in Clinton for $20.5 million. The 400,000 square-foot complex just south of Interstate 20 was built in 1996 as the headquarters for WorldCom. The Mississippi ...

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Apple ordered to pay $23.6M for using SkyTel technology

Apple Inc. has been ordered to pay a Texas company $23.6 million for using without permission patents and technology developed in the 1990s by SkyTel, formerly based in Jackson and owned by now-defunct WorldCom. Bloomberg News reported that patents developed for the SkyTel network and owned by Mobile Telecommunications Technologies LLC are valid and were infringed by Apple, a federal ...

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Department of Revenue workers thrilled with new home

Here’s proof that things can seem horribly bad one week and just peachy the next. On March 18, employees of the Mississippi Department of Revenue endured the ear-splitting sound of a hail onslaught banging on a tin roof and aluminum walls. Seven days later, they heard the wonderful words they’ve awaited for nearly two decades: “We’re moving.” With that announcement, ...

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Read March 29 issue of MBJ

WINNING Clinton snags Department of Revenue for old WorldCom site by Ted Carter SEMISOUTH CLOSES Starkville semiconductor company terminates operations by Wally Northway BEER After months of successful lobbying for brewing freedom, Raise Your Pints changes focus by Clay Chandler BIG GOSPEL Blackberry Records executive and entertainment lawyer talk about the past and future of gospel music by Stephen McDill JOHN ...

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