Ebbers sentenced to 25 years in prison

By Erik Ricasa

Published on July 23, 2005

Convicted in March, Ebbers, 63, was accused of hiding debt and inflating revenue, resulting in an $11 billion fraud. WorldCom later collapsed and went bankrupt before emerging as MCI Inc.

Prosecutors say Ebbers caused more than $2 billion in losses for shareholders, while obtaining hundreds of millions of dollars in loans based on WorldCom inflated shares.

Ebbers agreed to give up most of his assets, which could amount to $45 million dollars to settle the criminal and civil claims against him. He asked the judge for leniency due to heart problems and $96 million worth of donations to charity.

In addition to the 25-year prison sentence, the judge also denied Ebbers' request for a new trial.

Ebbers is the first of six former WorldCom accountants and executives to be sentenced this summer. The other defendants have pleaded guilty and are cooperating against Ebbers.

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