Bernard Ebbers And The Grand Success Of Worldcom - 1608 Words

Bernard Ebbers is an Ex former chief executive, and the co-founder of WorldCom. WorldCom was the second largest long distance phone company in the United States now known as MCI, because of the tremendous scandal that led to the company’s bankruptcy (Crawford, 2005). With the grand success of WorldCom, Bernard Ebbers became one of the most powerful American businessman ever to face a criminal trial. In 2005, Ebbers was found guilty of securities fraud, conspiracy, and filing false documents with regulators. With the fraud committed to WorldCom, it led to a big scandal leaving the company in bankruptcy and affecting thousands of people’s jobs. Bernard Ebbers is now labeled Americas Top 10 frauds list of all time. Bernard Ebbers was the second child of five children and was born in Canada. He worked as a milkman and bar bouncer before finally getting a scholarship to play basketball for Mississippi College (Padgett/Jackson, 2002). Ebbers dream was to become a coach and be a high school teacher. When he graduated he worked for a Mississippi College as a basketball coach and even own and ran a chain of motels. Ebbers knew he could achieve only if he had an opportunity to prove it. After a few years he met a group of investors that wanted to make a company that would compete with ATT and thought Ebbers would be the guy that would make it happen for them. Everything started on a napkin â€Å"the group drew up the plans for LDDS (Long-Distance Discount Services)† (Gould). ThisShow MoreRelatedRole of Criminology in Determining the Emerging Patterns of Corporate Crime3821 Words   |  15 Pagesbe very hard to trace the issue to the company. Another motive it can be hard to notice corporate crime is that directors within a company are improbable to report the criminal activity of their colleagues for the fear that it will stop their success and possibly lose their jobs. Within a company, doing this illegal practice could be seen as the in thing and the people employed within that environment may not see what they are doing as ethically immoral. The matter of the lack of media exposure