Bernie Ebbers Gets Out Early

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to Accounting Today, Bernie Ebbers, infamous for the World Com fraud was granted early release for health reasons.

Questions:

  1. What is the First Step Act and why did the author think that this had a bearing on the case?
  2. How long had Bernie Ebbers served?
  3. When MCI went bankrupt as a function of the fraud, which company acquired it?
  4. If you had been an investor, would you have approved of early release? Why or why not?
  5. At the end of the article, what other fraudsters were mentioned and what were the outcomes of their appeals?

Source:

Dolmetsch, C. (2019). WorldCom’s Ebbers wins early release . Accounting Today, December 20 (Retrievable online at https://www.accountingtoday.com/articles/worldcoms-bernard-ebbers-wins-early-release-from-prison?position=editorial_10&campaignname=ACT%20Daily-12232019&utm_source=newsletter&utm_medium=email&utm_campaign=ACT_Daily_Daily_TEST%2B%27-%27%2B12232019&bt_ee=dTd6MPjduXoPmCpPvg4x7ppeZw01kzXlFdPM5isNbuk%3D&bt_ts=1577098906745)