Bernard J. Ebbers leaving federal . In 2002, the Mississippi-based company admitted to improperly reporting $3.8 billion in expenses, prompting Justice Department to open a criminal investigation into its . 29 Counties Have More Opioid Prescriptions Than Re Crimestoppers Offers Reward for Murder Suspect, Swim Coach Tries to Get Indictment Dismissed. He also lived on a farm and loved to drive a tractor. NEW YORK - MARCH 7: Carly (L) and Kristie (R) Ebbers, the daughter and wife, respectively, of Bernie Ebbers, former chief executive officer of WorldCom, take a break from federal court March 7, 2005 in New York City. Many stockholders and employees lost their investments in the fall of WorldCom. Court papers say a Bureau of Prisons official . [24], When the allegations of conspiracy and fraud were first brought to light in 2002, Ebbers addressed the congregation and insisted on his innocence. Grow your brand authentically by sharing brand content with the internets creators. Bernie Ebbers is currently serving his prison sentence in Oakdale Federal Correctional Institution, a prison located in Louisiana. Family: Thankful for final days before Ebbers death, 5 adults, 3 children injured in three-vehicle crash in Hinds County, Pearl Police arrest man after high speed chase through multiple cities, 3 illegal immigrants captured after escaping ICE vehicle in Mississippi, House amends bill to create Jackson water utility after speaking with third-party manager, American Car Center closes 40 locations, including Jackson, Request a First Alert Weather School Visit. His physical and mental conditions make it where he cannot function or provide self-care in prison, she said. [4], Dubbed the "Telecom Cowboy," Ebbers often wore boots and blue jeans instead of the typical corporate uniform of a suit and tie. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. The World hated him in many ways, But the Love of God shown through him, IN SPITE of all the bad things that he had to endure. He will always be remembered by me as a man that stood for what was right all the way to the end. The name changed to MCI WorldCom after the MCI purchase, and later back to WorldCom. He and Linda loved basketball and raising their daughters. (WLBT) - Bernie Ebbers died Sunday at the age of 78. He is survived by Linda Ebbers,daughters Ave Easley (David), Treasure Ebbers Beeson (Dwayne), Joy Ebbers Bourne, Faith Ebbers Gates (Michael); grandchildren Nathanael Easley, Rachel Easley,GabryelleEasley; Jordan Beeson Stewart (Jacob), Jonathan Beeson, Juliana Beeson; Truett Bourne. Bernard Ebbers, the former WorldCom Inc. chief executive who spent more than 13 years in prison for participating in one of the largest accounting frauds in U.S . Ebbers weight fell to 142 pounds (64 kg) in December 2019 from 200 pounds (91 kg) in July 2018, the court papers show. Hes a good hearted man that needs to be cared for by his family., Bourne said in a recent email sent to close acquaintances that her father is a non-violent first offender who poses no threat to the safety of any person or the community and asked that they email letters of support to U.S. District Court Judge Valerie Caproni, who is considering an early release for Ebbers. Ebbers, 78, is locked up in a federal medical facility in Fort Worth, Texas, and has served more than half of a 25-year sentence. [18], On June 25, 2002, WorldCom admitted to nearly $3.9 billion in accounting misstatements and on July 22, 2002, it filed for bankruptcy. Bernard Bernie J. Ebbers ran into the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in U.S. history, died just over a month after his early release from prison. Thirteen years of incarceration - up to the point of approaching death - is not a slap on the wrist, Caproni wrote last month. Over the past few years, Dad has faced several serious medical issues while in prison, she wrote. Disconnected: Deceit and Betrayal at WorldCom. This initiated a series of investigations and legal proceedings, which focused on Ebbers, WorldCom's former CEO. Did Supremes Make Judicial Elections Partisan? Boards are the best place to save images and video clips. After the settlement, Ebbers's wife was left with an estimated $50,000 in known assets. An injury before his senior season prevented him from playing his final year and he was instead assigned to coach the junior varsity team. His daughter, Joy Ebbers Bourne, of Madison, is leading the charge for his early release based on reform to Compassionate Release laws, which was included in the First Step Act signed by President Donald Trump last year. Organize, control, distribute and measure all of your digital content. Access the best of Getty Images with our simple subscription plan. The Ebbers family released a statement thanking Judge Valerie Caproni, as they got to spend Bernie's final days with him: On behalf of the Ebbers family, I want to express our sincere gratitude to Judge Valerie Caproni for her truly compassionate decision to release Dad from . One analyst cited in an early profilein the late nineties said Bernie Ebbers was "the telephone equivalent of Bill Gates." . I love Bernie Ebbers. Bernie Ebbers spent his last night of freedom doing what he loved best - making deals, in this case with titan George Soros, who bought one the biggest . [5][6], Ebbers was born in Edmonton, Alberta, the second of five children of Kathleen and John Ebbers, a traveling salesman. His father was a traveling salesman and a mechanic, and his mother was a homemaker. Bernie was born on August 27, 1941 and was 78 years old at . Bernie was born on August 27, 1941, and was 78 years old at the time of this death. I expected results. The world may hate him but God loves him much more. [36][37] Ebbers served in the low-security portion of the complex, which typically houses non-violent offenders and is built like a school dormitory. In 2013, Portfolio.com and CNBC named Ebbers as the 5th-worst CEO in American history. "[9], After making this statement, Ebbers asserted his right against self-incrimination per the Fifth Amendment to the United States Constitution. Bernie Ebbers August 27, 1941 - February 2, 2020. Ebbers remained on the prowl, announcing a $129 billion merger with Sprint Corp in October 1999, only to have regulators block that tie-up. The Securities Exchange Commission, meanwhile, focused on $400 million that WorldCom personally loaned Ebbers.WorldCom eventually filed for bankruptcy, and its stock price tumbled from $64 per share to a little over $1. Theyalsoloved Brookhaven and its people wherehe had a passion for leading Sunday school. Here's what he said, See which bills survived the latest deadline in the Mississippi Leg, How Tolu Smith, students in banana costumes helped Chris Jans, MSU basketball, Calvary Baptist Church will not appeal, Saddleback Church doubles down, When is ALDI opening in Hattiesburg? Bernard "Bernie" Ebbers Bernard "Bernie" Ebbers WorldCom E. Stanley Kroenke E. Stanley Kroenke Kroenke, described by MCI in the press release as "a nationally known businessman with numerous real . >>. Theyalsoloved Brookhaven and its people wherehe had a passion for leading Sunday school. Copyright 2020 WLBT. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. WorldCom had about $103.8 billion of assets when it filed for Chapter 11 protection from creditors in July 2002, making its bankruptcy the largest in U.S. corporate history. Bernard Ebbers was 78. Former WorldCom CEO Bernard Ebbers was sentenced Wednesday to 25 years in prison, imposing what could be a life sentence on the executive held accountable for WorldCom's historic collapse into . Ebbers blamed his subordinates but was convicted of . Lehmans Richard Fuld ranked first. Bernie never stopped teaching others about the Lord, leading his family, and spreading the love of Christ, no matter his circumstances. Im the coach. [9], Ebbers began his business career operating a chain of motels in Mississippi. Bernie's life and how he loved people has left an impact on the lives of all who knew him. On September 5, 2019, Ebbers filed a motion with the . Scott [Sullivan] is still in prison, of course. Inside the WorldCom Scam: With Stacy Keach, Bernard Ebbers, Alison Heruth-Waterbury, Joseph Medawar. He was a great Man. He was 78. His mom was a homemaker. (Photo by Angela Jimenez/Getty Images). Brookhaven - Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. The Getty Images design is a trademark of Getty Images. 2023 Getty Images. Jackson's water bond failure: The REST of the story. He and Linda loved basketball and raising their daughters. Bourne asked that letter writers not complain about the trial or the sentence, but focus only on bringing him home because of his age and poor health. Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. Mar 15, 2005 12:00 AM EST. Get this delivered to your inbox, and more info about our products and services. Sid Salter: Mississippi Coming Full Circle on Unwi New Skilled Pediatric Nursing Facility Coming to UMMC, Presenting the Mississippi State Capitol (Video). "In the calls, he was alert, aware and oriented to person, place, time and situation," the psychologist is quoted as saying, adding that Ebbers was asking about his daughter's efforts to get him out of prison. He was ousted in April 2002 amid unhappiness over more than $400 million he reportedly owed. Collect, curate and comment on your files. On April 26, Worldcom's board voted unanimously to demand that Ebbers resign, which he formally did on April 30, 2002. If you are willing to write, please email by Thursday, Nov. 14. Bernie's life and how he loved people has left an impact on the lives of all who knew him. The parties agreed that Ebbers and his codefendants would distribute over $6.13 billion, plus interest, to over 830,000 individuals and institutions that had held stocks and bonds in WorldCom at the time of its collapse. Of far more importance, it is a reminder of the lessons learned relating to the board's role in assuring a corporate culture in which the internal legal function is respected, influential and . He thought himself less a micromanager, and more the high school basketball coach he once was. We could get no answers from the medical staff. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Bernie is preceded in death by his parents, Kathleen Mary and John Tony Ebbers, and grandchildren Baby Easley and Bernie Ellen Gates. Ebbers denied he was at fault, saying it was subordinates who had concealed WorldComs skyrocketing costs. When WorldCom, the telecommunications giant, failed and was put into bankruptcy, the U.S. witnessed one of the largest accounting frauds in history. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. Bernie Ebbers in 2005 Getty Images. Former CEO, Bernie Ebbers, 63, was convicted of orchestrating this US$11 billion accounting fraud and was sentenced to 25 years in prison on July 13, 2005. The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in U.S. history, died just over a month after his early release from prison. Soon afterwards, he was sentenced to 25 years in prison. When my sisters and I began our efforts to see our father released from prison, we watched as a 64, 220-pound man continued to lose weight without explanation and his physical and mental condition deteriorated. Finally, we will forever be thankful for the compassion and courage shown by Judge Valerie Caproni in releasing Dad to us. A Division of NBCUniversal. Thankfully, Judge Caproni agreed with us keeping Dad in prison, especially in his unexplained and undiagnosed deteriorated condition, would not bring back anyones investments. Bernard John Ebbers (August 27, 1941 - February 2, 2020) was a Canadian convicted fraudster, businessman and the co-founder and CEO of WorldCom.Under his management, WorldCom grew rapidly but collapsed in 2002 amid revelations of accounting irregularities, making it at the time one of the largest accounting scandals in the United States. Hosemann Family Autism Foundation Awards Teacher S Bill Crawford: Sticking with Trump Risky for Moral U.S. Attorney: "Quit Denying There is a Crime Prob Bill Crawford: What Will Shine Brightest? Ebbers died at his home in Brookhaven, Mississippi, on February 2, 2020, at the age of 78, just over a month after being released from prison due to health issues. He reportedly told the congregation that no one would find he had knowingly committed fraud, and assured them that you arent going to church with a crook.. Bernie invested in people's livesandthefingerprintsofhischaritycontinue to enduretodayonmany. Caproni, who serves in the, Mississippis Mayo Lab working to combat student mental health crisis, It isnt a leap year, but $272,000 lottery win had Mississippi ticket holder jumping for joy on last day of February, Three inmates slip out of handcuffs at Mississippi truck stop, back in custody after overnight manhunt, Drug round nets six arrests for Mississippi narcotics agents Friday. Bernie Ebbers was a Canadian-born businessman and former CEO of the telecommunications company WorldCom. . Federal prosecutors in New York oppose Ebbers' request, however, suggesting the 78-year-old may not be in as bad shape as his court filings indicate. Ebbers health had been rapidly deteriorating before a federal judge granted him a compassionate release from prison in December, after he had served a little over 13 years of a 25-year sentence. I considered myself demanding, he said. 2023 Getty Images. "[9][50], Last edited on 10 February 2023, at 07:02, Federal Correctional Institution, Fort Worth, U.S. House Committee on Financial Services, Fifth Amendment to the United States Constitution, United States District Court for the Southern District of New York, U.S. Court of Appeals for the Second Circuit, "WorldCom's Bernard Ebbers Wins Early Release From Prison", "Ebbers Sentenced to 25 Years in Prison for $11 Billion Fraud", "Portfolio's Worst American CEOs of All Time", "Ex-WorldCom CEO Bernard Ebbers, 'telecom cowboy' sentenced to 25 years in accounting fraud, dies at 78", "Bernie Ebbers, a 19th century-style tech tycoon? A Celebration of Life service will be held at 6 p.m. on Saturday, February8, 2020, at First Baptist Church of Brookhaven, with visitationfrom 4-6 pm. [5] His family were devout Christians. Bernard "Bernie" Ebbers was sent to prison in 2006 after being found guilty of one of the biggest financial frauds of the 20th century. In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. Sign up for free newsletters and get more CNBC delivered to your inbox. Ponzi scheme king Bernie Madoff, who bilked investors out of billions, seeks medical release from prison . In July 2019, one of Ebbers' daughters submitted a request that her father receive compassionate release from a federal prison medical facility in Fort Worth, Texas. But he maintained ignorance of details. His lawyers claimed that he was, by the time of his death, legally blind and suffering from dementia, anemia and significant weight loss. [3] In 2009, Time named him the 10th most corrupt CEO of all time. In lieu of flowers, please consider giving to Casa de FE via Hope Extended. When we arrived at the federal courthouse on December 18, we learned Dad had once again been admitted to the hospital. Data is a real-time snapshot *Data is delayed at least 15 minutes. I know it won't bring back any of the money lost but at least she will feel . However, the BOP had no diagnosis or treatment plan in place. Kelly arrested for taking pics of Rose Cochran, PERS gets mo' money but funding level falls, Majority black public school districts spend more, waste more, fail more. In turn, he has been rewarded for his success. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. Heencouraged and motivated on a personal level to the benefit of everyone. "I just want you to know you aren't going to church with a crook," he said. I know many of the victims of WorldCom opposed Dads release. The US Attorneys office in New York then opposed our Motion for compassionate release, stating that the BOP had the ability to care for Dad. Bernie Ebbers was many things to many people, but the greatest role he ever had was being a father to his girls. His daughter, in a court filing, said he was "experiencing full-blown dementia.". The case of Bernie Ebbers has shed further light on the increasingly criminal character of the practices of corporate America, which finds its concentrated political expression in the Bush . So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. I sometimes said things I shouldnt have said, maybe.. He became CEO two years later, and the company changed its name to WorldCom in 1995. The line of questioning and Ebbers's testimony painted a picture of a hard-working former jock and basketball coach, a man who had struggled in college, worked many odd jobs, adopted children, and . The chief financial officer was fired. Visitation, Services for Mrs. Donna Lynne Ratcliff Cupit is 11:00 am, Saturday, February 4, 2023, at Riverwood Family with visitation from, Mr. Tommy Gene Puckett, 68, of Magnolia, MS, died January 28, 2023, in McComb, MS. [48], In July 2001, Ebbers was proposed by George W. Bush as the chair for the President's National Security Telecommunications Advisory Committee. But as the global technology and telecommunications bubble began to burst, Ebbers became financially strained from margin calls, leading him to borrow heavily from WorldCom. The Getty Images design is a trademark of Getty Images. . Bloggerized by Zona Cerebral and GirlyBlogger, Mayhem & Destruction in Brandon (Updated), Jackson interest-rate swaps/refinance of bonds, Monday Morning Edition of Friday Night Fights, Insurance Commissioner: Be Careful w/ Fireworks. ", "Worldcom to Buy MFS for $12 Billion, Creating a Phone Giant", "WorldCom quarterly report for the quarter ended March 31, 2002", "Worldcom, Inc. 2002 Form 10-K Annual Report", "Top 10 CEO Scandals: Bernie Ebbers, WorldCom", "Bernie Ebbers Wants To Reach Out And Touch Everyone", "Ex-WorldCom CEO Ebbers wants sentence commuted", "Ebbers' luck runs out in sweeping victory for feds", "Bernard Ebbers, WorldCom CEO convicted in historic fraud scandal, dies at 78", "U.S. charges ex-Worldcom CEO Bernard Ebbers", "Ebbers signs agreement on Oklahoma charges", "Ebbers signs agreement with Oklahoma AG", "Appeals court upholds Ebbers conviction", "What life will be like for Ebbers behind bars", "Bernard Ebbers Reports to Prison in Louisiana", "WorldCom investors to get $6bn and Ebbers's house", "Convicted former WorldCom CEO Ebbers dead at 78", "Bernie Ebbers, WorldCom fraudster, dead at 78", "Ebbers' high-risk act came crashing down on him", "Many Mississippians Continue To Support WorldCom's Ebbers", "President Bush to Announce Several Individuals to Serve in his Administration", White House Office of the Press Secretary, https://en.wikipedia.org/w/index.php?title=Bernard_Ebbers&oldid=1138543435, Mississippi Business Hall of Fame (May 1995), This page was last edited on 10 February 2023, at 07:02. Bernie Ebbers. Heencouraged and motivated on a personal level to the benefit of everyone. She filed for divorce on April 16, 2008, less than two years after he entered prison. His father was a sales rep and a repairman. Boards are the best place to save images and video clips. James Ebbers, and Stephen Ebbers; and a sister MarionOlthuis. He later moved to California and New Mexico, and then back to Canada, before obtaining a physical education degree in 1967 from Mississippi College, where the 6-foot-4 (1.93-meter) Ebbers had a basketball scholarship. Bernard "Bernie" J. EbbersBrookhaven - Bernard "Bernie" J. Ebbers ran in to the arms of Jesus on February 2, 2020, surrounded by his family in Brookhaven, Miss. Ebbers reported to Oakdale Federal Correctional Institution in Oakdale, Louisiana, on September 26, 2006, driving himself to the prison in his Mercedes-Benz vehicle. WorldCom's roots stem from a Mississippi telecom company called LDDS where Ebbers was CEO. Ebbers was convicted in New York in 2005 on securities fraud and other charges and received a 25-year sentence. his side for the last weeks of his life here on earth. Known as Bernie, the bearded, twice-divorced Ebbers spent nearly two decades transforming a small Mississippi company once known as Long Distance Discount Service into WorldCom through a slew of acquisitions, including the $37 billion takeover of the much larger MCI Communications in 1998. In a response filed in court Tuesday, Ebbers attorney Graham Carner said the alleged discrepancies can be explained by factors that have nothing to do with fakery. Ebbers has essentially served the life sentence that the sentencing court predicted it had imposed.. Bernie Ebbers, ex-CEO convicted in WorldCom scandal, dies. 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