Ebbers guilty of Worldcom fraud

Bernie Ebbers was been found guilty of fraud. Former Worldcom chief Bernie Ebbers has been found guilty of conspiracy and fraud in connection with the collapse of the telecoms company which evaporated $180B from shareholder portfolios. Ebbers directed an $11 billion fraud that triggered the largest bankruptcy in U.S. history. He was convicted with only his CFO, Scott Sullivan, directly implicating him. Although Sullivan did not provide a "smoking gun" in the form of substantiating documents or corroborating testimony from eyewitnesses, the jury was evidently swayed by a mound of circumstantial evidence. Ebbers had tried the "I'm just a simple caveman" defence.

Getting nervous, Mr. Lay?