Former Worldcom boss Bernard Ebbers wept openly as he was sentenced to 25 years in jail for his part in the scandal which brought down the firm.
Before you feel too sorry for him
Some 20,000 workers lost their jobs, while shareholders lost about $180bn, when the company filed for bankruptcy protection.
Mr Ebbers “was clearly a leader of criminal activity in this case,” the judge said.
“A sentence of anything less would not reflect the seriousness of the crime.”
As far as I know, in federal convictions like this, there are no reduced terms for good behavior, etc., meaning he will do the entire 25 years.
Hey, if enough CEOs go to prison, then maybe we will get actual and meaningful prison reform.