Bernard Ebbers was the CEO of Worldcom, which was a long distances communications company. In 1997, Worldcom acquired its competitor MCI, skyrocketing to the second largest telecommunication company in the world. Ebbers was promoted into the position of CEO in 1985, where for years he culminated multiple acquisitions, quickly building up the resources. In 1999, Ebbers attempted to buy out Sprint. If Worldcom were to have acquired their assets, the company would have been placed ahead of AT&T, becoming the largest telecom company.
The merger between Worldcom and Sprint quickly fell through. In 2001 due to the tech and telecom downturn, Ebbers began manipulate the earnings on paper and to sell his own shares in Worldcom in order to afford his
The merger between Worldcom and Sprint quickly fell through. In 2001 due to the tech and telecom downturn, Ebbers began manipulate the earnings on paper and to sell his own shares in Worldcom in order to afford his