Former WorldCom chief, Bernard Ebbers on Wednesday received a nasty shock when he was sentenced to 25 years in jail for his role in the $11 billion accounting fraud which caused the company's collapse three years ago.
Despite the recent announcement that Ebbers would be handing over almost his entire fortune to compensate shareholders affected by the corporate fraud, Judge Barbara Jones, ruling in the US District Court of Manhattan imposed an unexpectedly tough sentence, likely to see the former WorldCom boss in jail until 2027, at the earliest.
"I find that a sentence of anything less would not reflect the seriousness of this crime," she explained.
Ebbers has been ordered to report to prison on October 12, and the Judge Jones has stated that she will accept written arguments on whether the executive should remain free whilst he appeals the sentence imposed this week.
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