Pleading guilty, WorldCom’s Sullivan gets a bargain of a shorter sentence
5th Sep 2005, 13:15 GMT
Following the July 2005 Manhattan District Court decree of a 25-year imprisonment for the former WorldCom CEO, Bernard Ebbers, it was the turn of CFO, Scott D. Sullivan, to be called to the stand, for the judgment of the largest corporate fraud ever. However, this time the Judge Barbara S. Jones took a more lenient view of the role of Sullivan, who she dubbed as the architect of the fraud, to just five years in prison in light of his cooperating with government prosecutors, during the investigations.
Latest news from The Earth Times Online Newspaper - Business News:
- Eddie Bauer agrees to $286 million offer from private equity firms
- Motorola in $1.6 billion deal with Chinese phone distribution company
- Toyota plans major expansion in India, China
- German GDP grows 0.6 per cent in Q3
- EasyJet eyes expansion as profits soar
- Detroit automakers to discuss concerns with Bush
- Colonel Sanders sports a new look
- China introduces new rules for foreign banks to conform to WTO norms
- Hertz IPO raises $1.32 billion, price below expectations
- 3 U.S. car company CEOs meet Bush, represent issues they face