September 26, 2006
Reported by KPLC Staff
A story receiving national attention brought the spotlight to Oakdale today.
The former CEO of WorldCom Incorporated arrived this afternoon for processing at the federal prison in Oakdale, Louisiana. Bernard Ebbers was convicted of securities fraud, submitting false claims to the SEC and conspiracy to commit fraud in March of last year. The $11 billion accounting fraud brought down the firm. Last month, a court of appeals upheld his conviction, and today, Ebbers will begin serving at least 21 years before he is eligible for parole.
That would make Ebbers 86-years-old before he could be released. His attorney says they will continue to appeal.
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