A federal judge granted Ebbers' early release on Wednesday due to what his family says is failing health.
Ebbers, now 78, was convicted in March 2005 on nine felony counts for his role in the $11 billion fraud at WorldCom, one of the biggest accounting frauds in history. In addition to his prison sentence, he agreed to forfeit most of his assets, worth as much as $45 million, which were used to pay some of the people and entities impacted by the fraud.
Shortly after Ebbers stepped down as CEO of WorldCom in 2002, the company filed for bankruptcy. At the time, it was the largest Chapter 11 filing in US history.
The charges on which Ebbers was convicted carried a maximum sentence of 85 years.
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December 19, 2019 at 05:35AM
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Ex-WorldCom CEO tied to $11 billion fraud granted early release from prison - CNN
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