Ebbers was being tried for nine counts of fraud in the $11 billion accounting fraud, which resulted in the company going bankupt. WorldCom has since been reorganized as MCI Inc. (Nasdaq: MCIP).
The jury was bombarded with masses of financial data throughout the six-week trial, and spent eight days deliberating before finally coming to a verdict today. (See Ebbers Trial: The Jury Is Out, Ebbers Trial: Sex, Drugs & Numbers, Ebbers: Bumpkin or Bully?, Ebbers Day II: 'Look After Pennies', and Ebbers: Of Motels & Men.)
Ebbers, 63, now faces up to 85 years in prison. You do the math.
Light Reading will report more as information becomes available.
— The Staff, Light Reading