JURIST legal news archive...

Deja Enron All Over Again
October 6, 2008
JURIST Contributing Editor Nancy Rapoport of the William S. Boyd School of Law, University of Nevada Las Vegas, says that the current financial crisis reflects a failure on the part of lawmakers and regulators to learn some of the key lessons of the Enron collapse several years ago.... In 2002, aft....... [more]

Ex-Enron CFO begins 6-year sentence in Louisiana federal prison
November 11, 2006
The US Federal Bureau of Prisons has assigned former Enron chief financial officer Andrew Fastow to a federal detention center in Oakdale, Louisiana, according a new inmate listing on the FBP website. FDC Oakdale is a minimum security facility which already houses convicted former WorldCom CEO Bern....... [more]

Fastow and Ebbers: A Tale of Two Criminals
October 2, 2006
JURIST Guest Columnist Douglas Branson of the University of Pittsburgh School of Law says that a comparison of the Andrew Fastow and Bernard Ebbers corporate fraud cases suggests that the sentences handed down for the two former high-flying executives- 6 and 25 years respectively- are unduly dispa....... [more]

Don't Outsource Your Conscience: Lessons in Corporate Truth
September 27, 2006
JURIST Contributing Editor Nancy Rapoport of the University of Houston Law Center says that the recent spate of guilty verdicts and stiff sentences handed out for corporate fraud committed by the erstwhile leaders of Enron, WorldCom, Tyco, Adelphia and other companies suggests that executives need t....... [more]

Former WorldCom CEO Ebbers begins prison sentence
September 26, 2006
Former WorldCom CEO Bernard Ebbers began his 25-year prison sentence Tuesday in the Oakdale Correctional Complex federal prison in Louisiana. In July a federal appeals court affirmed his securities fraud conviction and rejected contentions that a 25-year sentence for the 65-year old Canadian-born ex....... [more]

Appeals court affirms 25-year sentence for former WorldCom CEO Ebbers
July 28, 2006
A federal appeals court Friday affirmed the securities fraud conviction and 25-year prison sentence handed down for former WorldCom CEO Bernard Ebbers. Ebbers appealed the 2005 district court determinations, saying the prosecution unfairly blocked three former WorldCom employees from testifying on....... [more]

SEC settles civil lawsuits against former WorldCom execs
July 27, 2006
The US Securities and Exchange Commission (SEC) said Thursday that it had reached settlements with former WorldCom CFO Scott Sullivan and six others for their roles in fraudulent adjustments and entries in WorldCom's books and records. Mark Abide, former WorldCom director of property accounting....... [more]

Ebbers to Scrushy to Skilling and Lay
April 12, 2006
JURIST Guest Columnist Douglas Branson of the University of Pittsburgh School of Law says that defense lawyers in recent corporate fraud cases are not seeking to introduce reasonable doubts that might lead a jury to acquit their clients, but in the absence of much direct evidence are rather offering....... [more]

Federal court hears Ebbers appeal of fraud conviction
January 30, 2006
Lawyers for former WorldCom CEO Bernard Ebbers urged federal appeals court judges Monday to reconsider his 25-year prison sentence, questioning the fairness of the prosecution during trial proceedings. Ebbers was convicted of fraud and conspiracy in March 2005 in connection with an $11 billion fr....... [more]

WorldCom institutional investors reach $651 million settlement
October 27, 2005
Investment banks and other defendants associated with the WorldCom accounting fraud fallout have agreed to settle with a group of over 65 institutional investors for $651 million. The investors had opted out of a broader class action lawsuit previously brought that netted $6.1 billion for WorldCom....... [more]

MCI settles tax fraud claims with 16 states, DC
October 4, 2005
MCI agreed Monday to pay $331 million to 16 states and the District of Columbia to settle allegations that the company illegally classified transfers between subsidiaries to avoid paying state taxes as part of the WorldCom accounting fraud. Two separate settlements were negotiated, one giving $315....... [more]


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