Woohoo!

[Nev]

http://en.wikinews.org/wiki/Former_Worl ... n_25_years

[SineSwiper]

MCI/WorldCom was once more powerful than AT&T. Now, it's a shadow of an existence, thanks almost entirely to this man. $11 billion? You can't understate how much that really is, even in corporate terms.

There was a good article that show the status of some of the other corporate fraudsters:

L. Dennis Kozlowski: He was convicted June 17 on fraud, conspiracy and grand larceny charges for actions while he headed Tyco International Ltd. Sentencing is tentatively set for Aug. 2; he faces up to 30 years in prison.

Kenneth Lay and Jeffrey Skilling: Both former Enron Corp. CEOs are to go on trial in January on conspiracy, bank fraud and securities fraud charges.

John Rigas: He was convicted in 2004 of conspiracy, bank fraud and securities fraud while at Adelphia Communications Corp., and sentenced June 20 to 15 years in prison.

Richard Scrushy: He was acquitted June 28 of all charges related to a $2.7 billion earnings overstatement at HealthSouth Corp.

Martha Stewart: She was convicted in 2004 of conspiracy, obstruction of justice, and making false statements about her sale of ImClone Systems Inc. stock. She was released March 4 after five months in prison and is serving five months of confinement in her home. Though no longer CEO, she has resumed working at her own company, Martha Stewart Living Omnimedia.

[Kupek]

Martha Stewart is high profile, but not anywhere near in the same level as the people who defrauded millions or billions from their companies. I think her net profit was around $50,000.

[SineSwiper]

Yeah, I know, and there definately needs to be more prosecutions on white-collars for defrauding of more than just $50K. There's plenty of them out there, and they aren't getting caught yet (or getting a slap on the risk for punishment).

[Nev]

My favorite part of the news article was where Ebbers tried to cite philanthropy as a plea for a lighter sentence. "Hey guys, I know I stole a bunch of money. But I gave some of it to charity! See, I'm a good person. Can I have a lighter sentence?"

[SineSwiper]

Charity is a requirement when you're rich. After all, at that amount of wealth, you're fucking over a lot of people, so giving some of it back is only fair. I hate it when people consider that such a feather in their cap, just because they donate minimial amounts of money.