The Lion's Den: Bernard Ebbers, former WorldCom CEO who went to prison in massive accounting fraud case, is dead

New York (CNN Business)Bernard Ebbers, the former CEO of WorldCom, who went to prison in 2006 for his role in an $11 billion accounting fraud case, has died.

His death Sunday was confirmed by a statement from his daughter Joy Ebbers Bourne. It was released through his attorney, Graham Carner. Ebbers had been granted an early release from prison due to poor health in December after serving just over 13 years of a 25-year sentence. He was 78 years old.

Ebbers was found guilty in 2005 of conspiracy, securities fraud and filing false statements in the case that brought down what was then the nation's No. 2 long-distance provider. The company eventually went bankrupt, leading to substantial losses for shareholders. Thousands of WorldCom employees lost their jobs and savings. At the time, the bankruptcy was the largest in US history.

In her statement, Ebbers' daughter said that her father died surrounded by family members. She thanked Valerie Caproni, the federal judge who granted his release, as well as his attorney.

"I know many of the victims of WorldCom opposed Dad's release. Many also wrote in support of release," his daughter said in her statement. "Many stockholders and employees lost their investments in the fall of WorldCom. Many of our friends -- and many in our family -- did too. Thankfully, Judge Caproni agreed with us -- keeping Dad in prison, especially in his unexplained and undiagnosed deteriorated condition, would not bring back anyone's investments. My family and I continue to pray for everyone affected by the fall of WorldCom."

WorldCom had operated in the retail long distance market under the MCI name, the telecom company it had purchased for $37 billion in 1997. It competed with AT&T, which was at one time the only company that could connect phone calls across the United States. When it emerged from bankruptcy, it shed the WorldCom name and took the name MCI. It eventually was purchased by Verizon (VZ) for $6.7 billion, in a deal announced just before Ebbers' conviction.

Prosecutors argued that Ebbers allowed the accounting fraud because he wanted to protect his personal fortune, which consisted mostly of WorldCom stock. In addition, WorldCom had made loans of $400 million to Ebbers.

story posted on 2/3..

on a day with 25 numerology...2+3+20=25

he had a 25-year sentence

death=25

Ebbers was found guilty in 2005 of conspiracy, securities fraud and filing false statements in the case that brought down what was then the nation's No. 2 long-distance provider.

Bernard John Ebbers was a Canadian businessman and the co-founder and CEO of WorldCom. Under his management, WorldCom grew rapidly but collapsed in 2002 amid revelations of the largest accounting scandals in the United States until the Madoff investment scandal was revealed in 2008. Wikipedia

Died: February 2, 2020 Trending

Born: August 27, 1941, Edmonton, Canada

Children: Ave Titis Easley, Joy Ebbers Bourne, Faith Ann Ebbers, Treasure Ebbers Beeson

Spouse: Kristie Webb (m. 1999–2008), Linda Pigott (m. 1968–1997)

Education: University of Alberta, Mississippi College, Calvin University

he died on the 160th day of his age...(78)