(Photo by Angela Jimenez/Getty Images). Jackson's water bond failure: The REST of the story. Facebook; . His lawyers claimed that he was, by the time of his death, legally blind and suffering from dementia, anemia and significant weight loss. NEW YORK (CNN/Money) - Ex-WorldCom chief executive Bernard Ebbers was sentenced Wednesday to 25 years in prison for his role in orchestrating the biggest corporate fraud in the nation's history . [5][6], Ebbers was born in Edmonton, Alberta, the second of five children of Kathleen and John Ebbers, a traveling salesman. Bernie Ebbers. However, the BOP had no diagnosis or treatment plan in place. The line of questioning and Ebbers's testimony painted a picture of a hard-working former jock and basketball coach, a man who had struggled in college, worked many odd jobs, adopted children, and . His health had been rapidly deteriorating before a federal judge granted him a compassionate release from prison in . On September 5, 2019, Ebbers filed a motion with the . [49], While CEO of WorldCom, he was a member of the Easthaven Baptist Church in Brookhaven, Mississippi. The case of Bernie Ebbers has shed further light on the increasingly criminal character of the practices of corporate America, which finds its concentrated political expression in the Bush . Transcript. Hes a good hearted man that needs to be cared for by his family., Bourne said in a recent email sent to close acquaintances that her father is a non-violent first offender who poses no threat to the safety of any person or the community and asked that they email letters of support to U.S. District Court Judge Valerie Caproni, who is considering an early release for Ebbers. Bernie was born on August 27, 1941, and was 78 years old at the time of this death. His faith was overt, and he often started corporate meetings with prayer. Collect, curate and comment on your files. He was born May 27, 1985, to Chester Lamar Williams and Robbie, The funeral service for William Ronnie Sundown Thomas will be 2 p.m. Thursday, February 9th, at Charity Baptist Church, with, A graveside service will be held for Mrs. Barbara Jordan Smith, Monday, February 6, at Friendship Baptist Church Cemetery. 16 July 2005. "No one will find me to have knowingly committed fraud. [29] On November 20, 2003, the charges by Oklahoma were dropped, with the right to refile retained, to defer to federal charges. Madison Sheriff Searching for Missing Domino's Emp Bill Crawford: Money Talks in Mississippi Politics. Mar 15, 2005 12:00 AM EST. Bernie Ebbers was sacrificed unjustly so politicos could grab a few headlines. The Securities Exchange Commission, meanwhile, focused on $400 million that WorldCom personally loaned Ebbers.WorldCom eventually filed for bankruptcy, and its stock price tumbled from $64 per share to a little over $1. Whom have I in heaven but thee? Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. Growing to over 80,000 employees through multiple acquisitions of other telecom businesses, WorldCom became the overwhelming industry . "[9][50], Last edited on 10 February 2023, at 07:02, Federal Correctional Institution, Fort Worth, U.S. House Committee on Financial Services, Fifth Amendment to the United States Constitution, United States District Court for the Southern District of New York, U.S. Court of Appeals for the Second Circuit, "WorldCom's Bernard Ebbers Wins Early Release From Prison", "Ebbers Sentenced to 25 Years in Prison for $11 Billion Fraud", "Portfolio's Worst American CEOs of All Time", "Ex-WorldCom CEO Bernard Ebbers, 'telecom cowboy' sentenced to 25 years in accounting fraud, dies at 78", "Bernie Ebbers, a 19th century-style tech tycoon? Ebbers has served about 13 years of his 25-year sentence for orchestrating the $11 billion accounting fraud by the defunct telecommunications company. The . In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Court papers say a Bureau of Prisons official denied . . Bernie Ebbers' early release from prison should be noted by corporate boards not simply as a generous and empathic exercise of judicial discretion. WorldCom Inc. collapsed and went . Bernie was born on August 27, 1941, and was 78 years old at the time of this death. The chief financial officer was fired. Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. JACKSON, Miss. Bernard "Bernie"J. Ebbersran into the arms of Jesuson February 2, 2020, surrounded by his family in Brookhaven, Miss. Dad suffers from severe macular degeneration, cardiomyopathy, significant weight loss, anemia and mental deterioration. Over the last eight to 10 months, his health has been rapidly declining, resulting in his recent relocation to a medical hospital unit. His daughter, in a court filing, said he was "experiencing full-blown dementia.". One of his daughters, Joy Ebbers Bourne, said in a court filing in October that Mr. Ebbers was "now experiencing full-blown dementia." In March 2005, Bernie Ebbers, former CEO of WorldCom, was found guilty on nine counts of securities fraud and conspiracy involving an accounting scheme to bolster the company's apparent profitability. Judge Denise Cote of the United States District Court for the Southern District of New York ordered the parties in the lawsuit to negotiate. "In the calls, he was alert, aware and oriented to person, place, time and situation," the psychologist is quoted as saying, adding that Ebbers was asking about his daughter's efforts to get him out of prison. Kimberly Unger / Security Traders Association of New York via AP, file. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. 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 . Under Ebbers, WorldCom's $9 billion accounting fraud grew in order to avoid facing its worsening economic reality. Disconnected: Deceit and Betrayal at WorldCom. Buddy Hamilton, Jr. will be 2:30 p.m., Monday, February 20, at Riverwood Family, with interment, The funeral service for Sandra Gay Allen Stewart will be 11 a.m., Tuesday, February 21, at Riverwood Family, with interment, Services for Mrs. Jan Ratcliff of Brookhaven will be held 11:00 am, Monday, February 20, 2023, at Riverwood Family with, Services for Mr. Robert James Lang are 11:00 am, Saturday, February 18, 2023, at Bethel Baptist Church. His personal holdings included:[44], From 1993 through 1995, Ebbers served as chairman of the board of directors of the Competitive Telecommunications Association, where he pleaded with the United States Congress to improve competition with the incumbent telecommunications companies. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. Judge Caproni will receive updates daily on submissions in support of compassionate release.. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Bernard "Bernie" J. EbbersBrookhaven - Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. We are especially grateful for the team that helped us secure his release, and particularly Graham Carner, our attorney. Bernard "Bernie"J. Ebbersran into the arms of Jesuson February 2, 2020, surrounded by his family in Brookhaven, Miss. . 29 Counties Have More Opioid Prescriptions Than Re Crimestoppers Offers Reward for Murder Suspect, Swim Coach Tries to Get Indictment Dismissed. Bourne said in a recent email sent to close acquaintances that her father is a non-violent first offender who poses no threat to the safety of any person or the community and asked that they email letters of support to U.S. District Court Judge Valerie Caproni, who is considering an early release for Ebbers. Let's all Venmo Bernie's daughter and request our money he and his cohorts owe us. Federal prosecutors in New York oppose Ebbers' request, however, suggesting the 78-year-old may not be in as bad shape as his court filings indicate. Bernie was born on August 27, 1941 and Supervisor votes on projects next to land he owns, Rest of the story about Crisler's shooting, Democrats' Plans for Controlling the Media, Incest in Dixie: Mississippi Legal Profession, Domestic Violence & Divorce in Mississippi. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. But he maintained ignorance of details. After the settlement, Ebbers's wife was left with an estimated $50,000 in known assets. [33][34], On July 13, 2005, federal judge Barbara S. Jones, of the United States District Court for the Southern District of New York, sentenced Ebbers to 25 years in a federal prison in Louisiana. Finally, we will forever be thankful for the compassion and courage shown by Judge Valerie Caproni in releasing Dad to us. Sid Salter: Mississippi Coming Full Circle on Unwi New Skilled Pediatric Nursing Facility Coming to UMMC, Presenting the Mississippi State Capitol (Video). Ebbers was released from prison in December amid failing health. [15][16][17] In 2003, Ebbers defaulted on the note and Worldcom foreclosed on many of his assets. My flesh and my heart faileth: but God is the strength of my heart, and my portion for ever. NEW YORK -- A former top executive sentenced to 25 years in prison in one of the largest corporate accounting scandals in U.S. history was ordered freed from prison Wednesday for . Leave your feedback. He was surrounded by family when he died, according to the statement provided by his daughter, Joy Ebbers Bourne. He and Linda loved basketball and raising their daughters. These are Ave Titis Easley, Faith Ann Ebbers, Treasure Ebbers Beeson, and Joy Ebbers Bourne. [5], After high school, Ebbers briefly attended the University of Alberta and Calvin College before enrolling at Mississippi College on a basketball scholarship. [28] The indictment charged that he violated securities laws by defrauding investors on multiple occasions between January 2001 and March 2002. Our Standards: The Thomson Reuters Trust Principles. Former WorldCom CEO Bernie Ebbers is requesting to be released from prison early due to health issues. His daughter, Joy Ebbers Bourne, of Madison, is leading the charge for his early release based on reform to Compassionate Release laws, which was included in the First Step Act signed by President Donald Trump last year. By Martin Wolk. In lieu of flowers, please consider giving to Casa de FE via Hope Extended. He and Linda loved basketball and raising their daughters. one of Ebbers' daughters submitted a request that her father receive compassionate release from a . In August 2019, our initial application for compassionate release was denied by the Bureau of Prisons. He was 78. and they participated in mission work for years. He also lived on a farm and loved to drive a tractor. Ebbers was allowed to remain free for another year while his appeal was being considered. We will always be grateful for that. All rights reserved. His conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Rest in Peace, your rewards are yours for Eternity!!! American Greed investigates one of the most notorious cases of corporate fraud in US history: the rise and fraud of WorldCom. Many stockholders and employees lost their investments in the fall of WorldCom. The Ebbers family is especially grateful to have been by. Testifying in his own defense at his trial, a relatively rare move in a high-profile white-collar case, Ebbers invoked his coaching past to describe his management style. The name changed to MCI WorldCom after the MCI purchase, and later back to WorldCom. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on Feb. 2, 2020, surrounded by his family in Brookhaven. His daughter, Joy Ebbers Bourne, of Madison, is leading the charge . A jury finished its second day of deliberations in his criminal accounting fraud trial. James Ebbers, and Stephen Ebbers; and a sister MarionOlthuis. Caproni, who serves in the, Mississippis Mayo Lab working to combat student mental health crisis, It isnt a leap year, but $272,000 lottery win had Mississippi ticket holder jumping for joy on last day of February, Three inmates slip out of handcuffs at Mississippi truck stop, back in custody after overnight manhunt, Drug round nets six arrests for Mississippi narcotics agents Friday. Compassionate release can allow an inmate over the age of 60 to receive a reduction in sentence and release from prison. Bernie was born on August 27, 1941, and was 78 years old at the time of this death. He is survived by Linda Ebbers, daughters Ave Easley (David), Treasure Ebbers Beeson (Dwayne), Joy Ebbers Bourne, Faith . In October, Dad experienced a rapid decline and was transferred to a unit with 24-hour nursing care. [3] In 2009, Time named him the 10th most corrupt CEO of all time. Do you have more to say to him, or to anyone else convicted in the scandal? [24][25], Ebbers blamed the accounting scandal on his subordinates. CNBC and Portfolio.com in 2013 named Ebbers the fifth-worst American CEO of all time. He was born to John T. and Kathleen Mary Ebbers. Organize, control, distribute and measure all of your digital content. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. According to a 2009 Time article, Ebbers turned WorldCom into the nations second-largest long distance telecommunications company through a series of rapid acquisitions that left it heavily in the red. [12][13] In July 2000, it abandoned its planned $115 billion acquisition of Sprint Corporation after U.S. and European Union antitrust regulators raised objections. I dont know about technology and I dont know about finance and accounting, he said, according to the New York Times. Feb 3 - Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. NEW YORK - MARCH 7: Carly (L) and Kristie (R) Ebbers, the daughter and wife, respectively, of Bernie Ebbers, former chief executive officer of WorldCom, take a break from federal court March 7, 2005 in New York City. Bernie Ebbers, ex-CEO convicted in WorldCom scandal, dies. Family: Thankful for final days before Ebbers death, 5 adults, 3 children injured in three-vehicle crash in Hinds County, Pearl Police arrest man after high speed chase through multiple cities, 3 illegal immigrants captured after escaping ICE vehicle in Mississippi, House amends bill to create Jackson water utility after speaking with third-party manager, American Car Center closes 40 locations, including Jackson, Request a First Alert Weather School Visit. Email Article. He was a great Man. Ebbers had been in prison since 2006, serving a 25 year sentence. Ponzi scheme king Bernie Madoff, who bilked investors out of billions, seeks medical release from prison . Jury Deliberations Continue In Trial Of Former WorldCom Chief Bernie Ebbers. Emails should be brief, citing the reason for writing and relationship to Ebbers. Bernie Ebbers spent his last night of freedom doing what he loved best - making deals, in this case with titan George Soros, who bought one the biggest . Bernie invested in people's livesandthefingerprintsofhischaritycontinue to enduretodayonmany. Caproni, a judge on the U.S. District Court for the Southern District of New York, had given the government until Monday to supply the additional medical data, most of which were filed under seal. [8] In 1967, he received a Bachelor's degree in physical education, with an academic minor in secondary education, from Mississippi College. Im not an engineer by training; Im not an accountant by training - all those types of specialized skills, he told the New York Times in 1998, which interviewed him on his 130-foot yacht, Countach. Bernard Ebbers, the former WorldCom Inc. chief executive who spent more than 13 years in prison for participating in one of the largest accounting frauds in U.S . Bernie was born on August 27, 1941 and was 78 years old at . Dad ran in to the arms of Jesus tonight, surrounded by his loving family, and not chained to a hospital bed without anyone he knew in the room. Got a confidential news tip? Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. Bernard Ebbers was 78. [7], When Ebbers was young, the family moved to California and later lived for a while on a mission post on a Navajo Nation Indian reservation in New Mexico before moving back to Canada when Ebbers was a teenager. He became CEO two years later, and the company changed its name to WorldCom in 1995. "I just want you to know you aren't going to church with a crook," he said. His physical and mental conditions make it where he cannot function or provide self-care in prison, she said. He was released from the custody of the Bureau of Prisons on December 21, 2019. "Objective medical findings show that his age and medical condition qualify as extraordinary and compelling reasons for compassionate release," Carner wrote. Between schools, he worked as a milkman and bouncer. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. Bernie Ebbers August 27, 1941 - February 2, 2020. Ebbers, 78, is locked up in a federal medical facility in Fort Worth, Texas, and has served more than half of a 25-year sentence. With his former company on the brink, Ebbers reportedly appeared on June 30, 2002, at the Easthaven Baptist Church in Brookhaven, Mississippi, where he attended services and taught Sunday school. [42][43], At his peak in early 1999, Ebbers was worth an estimated $1.4 billion and listed as 174th on the Forbes 400. See here for a complete list of exchanges and delays. ", "Worldcom to Buy MFS for $12 Billion, Creating a Phone Giant", "WorldCom quarterly report for the quarter ended March 31, 2002", "Worldcom, Inc. 2002 Form 10-K Annual Report", "Top 10 CEO Scandals: Bernie Ebbers, WorldCom", "Bernie Ebbers Wants To Reach Out And Touch Everyone", "Ex-WorldCom CEO Ebbers wants sentence commuted", "Ebbers' luck runs out in sweeping victory for feds", "Bernard Ebbers, WorldCom CEO convicted in historic fraud scandal, dies at 78", "U.S. charges ex-Worldcom CEO Bernard Ebbers", "Ebbers signs agreement on Oklahoma charges", "Ebbers signs agreement with Oklahoma AG", "Appeals court upholds Ebbers conviction", "What life will be like for Ebbers behind bars", "Bernard Ebbers Reports to Prison in Louisiana", "WorldCom investors to get $6bn and Ebbers's house", "Convicted former WorldCom CEO Ebbers dead at 78", "Bernie Ebbers, WorldCom fraudster, dead at 78", "Ebbers' high-risk act came crashing down on him", "Many Mississippians Continue To Support WorldCom's Ebbers", "President Bush to Announce Several Individuals to Serve in his Administration", White House Office of the Press Secretary, https://en.wikipedia.org/w/index.php?title=Bernard_Ebbers&oldid=1138543435, Mississippi Business Hall of Fame (May 1995), This page was last edited on 10 February 2023, at 07:02. Bernie invested in people's livesandthefingerprintsofhischaritycontinue to enduretodayonmany. Bernard J. Ebbers leaving federal . Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. Two months later, WorldCom revealed an accounting shortfall and said it would restate some results. Bernard Bernie J. Ebbers ran into the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. So, ex-WorldCom CEO Bernie Ebbers died on Sunday at age 78. Ebbers was convicted in New York in 2005 on securities fraud and other charges and received a 25-year sentence. Im not the point guard who shoots the ball.. Ebbers qualifies due to his age, time served and his current medical condition. With good behavior, he is scheduled for release in 2028. Inside the WorldCom Scam: With Stacy Keach, Bernard Ebbers, Alison Heruth-Waterbury, Joseph Medawar. Brookhaven - Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. One analyst cited in an early profilein the late nineties said Bernie Ebbers was "the telephone equivalent of Bill Gates." . According to court papers, Ebbers had become legally blind, had fallen several times, was easily disoriented, and needed help to walk, eat and groom himself. All quotes delayed a minimum of 15 minutes. But as the global technology and telecommunications bubble began to burst, Ebbers became financially strained from margin calls, leading him to borrow heavily from WorldCom. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. [35] On September 6, 2006, the presiding judge ordered him to report to jail on September 26 to start serving his 25-year sentence. Jackson Free Press (Jackson, MS Alternative Weekly), Harborwalk Thread (Jackson's Latest Boondoggle), Clarion Ledger (Jackson, MS Gannett Newspaper). Bernard "Bernie" Ebbers was sent to prison in 2006 after being found guilty of one of the biggest financial frauds of the 20th century. The company acquired over 60 telecommunications firms and in 1995, it changed its name to WorldCom. He is survived by Linda Ebbers, daughters Ave Easley David , Treasure Ebbers Beeson Dwayne , Joy Ebbers Bourne, Faith Ebbers Gates Michael ; grandchildren Nathanael Easley, Rachel Easley, Gabryelle Easley; Jordan Beeson Stewart Jacob . Additionally, a number of directors believed Ebbers had not charted a way forward after the Sprint merger collapsed. Bernie Ebbers is currently serving his prison sentence in Oakdale Federal Correctional Institution, a prison located in Louisiana. Get this delivered to your inbox, and more info about our products and services. Bernie Ebbers former CEO of Worldcom leaves Manhattan Federal Court accompanied by his wife Kristie and some of his daughters as the jury plans to. In 2002, the Mississippi-based company admitted to improperly reporting $3.8 billion in expenses, prompting Justice Department to open a criminal investigation into its . Organize, control, distribute and measure all of your digital content. On July 13, former WorldCom CEO Bernie Ebbers was sentenced to 25 years in prison. His cognitive skills had slid well below the level suggesting dementia. At these hearings, Ebbers stated "I do not believe I have anything to hide, I believe that no one will conclude that I engaged in any criminal or fraudulent conduct. [10], In 1996, WorldCom acquired MFS Communications (originally Metropolitan Fiber Systems)[11] and in September 1998, it acquired MCI Communications. We ask that the familys privacy be respected at this time, and we covet your prayers. 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