[9], Ebbers began his business career operating a chain of motels in Mississippi. Judge Caproni will receive updates daily on submissions in support of compassionate release.. He was surrounded by family when he died, according to the statement provided by his daughter, Joy Ebbers Bourne. Many of our friendsand many in our familydid too. So So Sad to hear about the death of my long time friend Bernie Ebbers (May His soul Rest In Peace. It is imperative she hear from people who know my father, Bourne said. "[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? [8] In 1967, he received a Bachelor's degree in physical education, with an academic minor in secondary education, from Mississippi College. Amen. Many also wrote in support of release. On April 26, Worldcom's board voted unanimously to demand that Ebbers resign, which he formally did on April 30, 2002. Bernie Ebbers, WorldCom Chief Jailed for Fraud, Will Leave Prison Early. Sign up for free newsletters and get more CNBC delivered to your inbox. Facebook; . "[9], After making this statement, Ebbers asserted his right against self-incrimination per the Fifth Amendment to the United States Constitution. Between schools, he worked as a milkman and bouncer. He was a great Man. Judge Caproni will be soon deciding my fathers fate. He was born May 27, 1985, to Chester Lamar Williams and Robbie, The funeral service for William Ronnie Sundown Thomas will be 2 p.m. Thursday, February 9th, at Charity Baptist Church, with, A graveside service will be held for Mrs. Barbara Jordan Smith, Monday, February 6, at Friendship Baptist Church Cemetery. Rest in Peace, your rewards are yours for Eternity!!! 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. [14], Between September 2000 and April 2002, the board of directors of Worldcom authorized several loans and loan guarantees to Ebbers so that he would not have to sell his Worldcom shares to meet margin calls as the share price plummeted during the bursting of the dot-com bubble. Bernie never stopped teaching others about the Lord, leading his family, and spreading the love of Christ, no matter his circumstances. Bernard "Bernie" Ebbers was sent to prison in 2006 after being found guilty of one of the biggest financial frauds of the 20th century. 2023 Getty Images. Bernie never stopped teaching others about the Lord, leading his family, and spreading the love of Christ, no matter his circumstances. WorldCom's roots stem from a Mississippi telecom company called LDDS where Ebbers was CEO. 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 . 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. 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. Bernard John Ebbers was born on Aug. 27, 1941, in Edmonton, Alberta, to John T. and Kathleen Mary (Ellen) Ebbers. For Ebbers, who is 63 years old and has a heart ailment, this will likely mean spending the rest of . Emails should be brief, citing the reason for writing and relationship to Ebbers. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Mar 15, 2005 12:00 AM EST. And churches were built black and white because of his financial support, she said. Do you have more to say to him, or to anyone else convicted in the scandal? (Photo by Angela Jimenez/Getty Images). He was released from the custody of the Bureau of Prisons on December 21, 2019. He was 78 . His daughter, Joy Ebbers Bourne, of Madison, is leading the charge . 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. Grow your brand authentically by sharing brand content with the internets creators. A tornado watch was issued Wednesday for a portion of Mississippi. 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. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. One analyst cited in an early profile in the late nineties said Bernie Ebbers was "the telephone equivalent of Bill Gates." . Jackson Free Press (Jackson, MS Alternative Weekly), Harborwalk Thread (Jackson's Latest Boondoggle), Clarion Ledger (Jackson, MS Gannett Newspaper). Streamline your workflow with our best-in-class digital asset management system. That title is now held by Lehman Brothers bankruptcy in 2008. 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. He thought himself less a micromanager, and more the high school basketball coach he once was. 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. In a letter Monday to U.S. District Judge Valerie Caproni, Assistant U.S. Attorney Gina Castellano cites a note from a prison psychologist who listened in on phone calls between Ebbers and his daughter in recent weeks. With his former company on the brink, Ebbers reportedly appeared on June 30, 2002, at the Easthaven Baptist Church in Brookhaven, Mississippi, where he attended services and taught Sunday school. Bernie Ebbers in 2005 Getty Images. The former Brookhaven billionaire and WorldCom chief executive officer was convicted in 2005 on nine counts of conspiracy, securities fraud and making false regulatory filings after he was accused of orchestrating an $11 billion accounting fraud to try to cover it up, according to a Time article that named him last in a Top 10 Crooked CEOs list. Thankfully, Judge Caproni agreed with us keeping Dad in prison, especially in his unexplained and undiagnosed deteriorated condition, would not bring back anyones investments. 29 Counties Have More Opioid Prescriptions Than Re Crimestoppers Offers Reward for Murder Suspect, Swim Coach Tries to Get Indictment Dismissed. and there is none upon earth that I desire beside thee. Caproni, a judge on the U.S. District Court for the Southern District of New York, had given the government until Monday to supply the additional medical data, most of which were filed under seal. Assuming credit for good conduct while incarcerated, Ebbers has an anticipated release date of approximately July 4, 2028. Ebbers reported to Oakdale Federal Correctional Institution in Oakdale, Louisiana, on September 26, 2006, driving himself to the prison in his Mercedes-Benz vehicle. Bernard "Bernie"J. Ebbersran into the arms of Jesuson February 2, 2020, surrounded by his family in Brookhaven, Miss. We ask that the familys privacy be respected at this time, and we covet your prayers. Get this delivered to your inbox, and more info about our products and services. 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. Supervisor votes on projects next to land he owns, Rest of the story about Crisler's shooting, Democrats' Plans for Controlling the Media, Incest in Dixie: Mississippi Legal Profession, Domestic Violence & Divorce in Mississippi. and they participated in mission work for years. Two months later, WorldCom revealed an accounting shortfall and said it would restate some results. . He was 78. He also lived on a farm and loved to drive a tractor. Court papers say a Bureau of Prisons official . Emails should be sent to Wendy Olsen, the victim/witness coordinator for the U.S. Attorneys Office for the Southern District of New York. On September 21, 2005, Judge Cote approved the settlement and dismissed the lawsuit against Ebbers.[39][40][41]. Former Worldcom CEO Bernie Ebbers dies at 78. In lieu of flowers, please consider giving to Casa de FE via Hope Extended. His lawyers claimed that he was, by the time of his death, legally blind and suffering from dementia, anemia and significant weight loss. 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. His daughter, Joy Ebbers Bourne, says in a sworn declaration that her father has dementia. [48], In July 2001, Ebbers was proposed by George W. Bush as the chair for the President's National Security Telecommunications Advisory Committee. So, ex-WorldCom CEO Bernie Ebbers died on Sunday at age 78. Im not an engineer by training; Im not an accountant by training - all those types of specialized skills, he told the New York Times in 1998, which interviewed him on his 130-foot yacht, Countach. Soon afterwards, he was sentenced to 25 years in 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. The psychologist notes that Ebbers has presented a much different persona when he knows he is being observed. Even Barbara Jones, the federal judge who imposed Ebbers prison sentence, thought early release was appropriate. Email Article. He was born to John T. and Kathleen Mary Ebbers. ", "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. his side for the last weeks of his life here on earth. Bernie was born on August 27, 1941 and was 78 years old at the time of this death. 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. Let's all Venmo Bernie's daughter and request our money he and his cohorts owe us. He is currently on his 13th year of a 25-year prison sentence. Heencouraged and motivated on a personal level to the benefit of everyone. 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. Bernie began as a coachand took that approach inevery aspect of life. Bernard Ebbers was 78. We want to hear from you. Ebbers has four children - all of them daughters. 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