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The Guardian - Back to homeThe Guardian

WorldCom

June 2011

  • Mitt Romney, possible Republican presidential candidate for 2012

    Wall Street and Republican lawmakers thwart US financial reforms

    Timothy Geithner told a Washington committee that Wall Street banks were spending a lot of money to 'erode' Dodd-Frank Act

March 2010

  • Former HBOS executive Paul Moore

    Whistleblowers: the corporate insiders who spoke out

    How employees at Enron, British Biotech, HBOS and WorldCom went public with what their companies would have preferred to keep under wraps

September 2005

  • WorldCom investors to get $6bn and Ebbers's house

    A US judge gave final approval last night to a $3.6bn (£2bn) legal settlement between more than a dozen investment banks and WorldCom investors stemming from the telecoms company's collapse three years ago.

August 2005

  • 'Architect' of WorldCom collapse is jailed

    Scott Sullivan, the WorldCom finance chief who turned prosecution star witness, was sentenced to five years in prison yesterday for his role in the $11bn fraud that bankrupted the company.

July 2005

  • Ebbers, icon of dotcom greed, jailed for 25 years

    Bernard Ebbers, the former chief executive of WorldCom, was sentenced yesterday to 25 years in prison for his role in the $11bn (£6bn) fraud that drove the once high-flying American company into the largest bankruptcy in corporate history.

  • WorldCom creator jailed for fraud

    Bernard Ebbers, the creator of the telecommunications giant WorldCom, today received a 25-year jail sentence for his role in the fraud that led to the company's collapse.

  • Ex-WorldCom chief forfeits his money and home

    Bernie Ebbers yesterday agreed to forfeit up to $40m (£22m), including most of his cash and his mansion. The move is the latest humiliation for a man who was once one of the most respected figures in corporate America.

June 2005

  • Ebbers may face 85 years sentence

    American prosecutors are seeking an 85-year sentence for former WorldCom chief Bernard Ebbers, convicted of fraud this year.

May 2005

  • Verizon wins MCI after bitter Qwest backs out

    Verizon yesterday secured victory in the three-month battle to control MCI after raising its bid to $8.45bn (£4.4bn). The sweetened offer was enough to win the endorsement of the MCI board.

April 2005

  • MCI makes switch to Qwest

    MCI, the American telecommunications firm, has switched sides in the battle for its control. The company, which carries a large amount of the world's internet traffic, appears to have given its backing to a bid from Qwest after the Denver-based suitor lifted its offer to $9.7bn (£5.07bn) at the end of last week. The latest offer was the third time that Qwest has raised its bid.

March 2005

  • Being above it all is no longer a viable defence

  • Ebbers found guilty over $11bn fraud at WorldCom

  • Ebbers found guilty in WorldCom trial

  • Praised in print? Must be ripe for fraud

February 2005

  • Qwest to submit new bid for MCI

  • Verizon connects with son of WorldCom in $6.7bn deal

  • WorldCom finance chief tells of Ebbers pressure

  • Star witness implicates Ebbers

January 2005

  • Ebbers told 'lie after lie after lie'

  • Salacious start for Ebbers trial

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