Articles by Erin McClam

WorldCom Executive Sentenced to 25 Years

  • 14 July 05
  • The Associated Press
Bernard Ebbers, who as the once-swaggering CEO of WorldCom oversaw the largest corporate fraud in U.S. history, wept in court Wednesday after a judge sentenced him to 25 years in prison -- the toughest sentence yet in the string of recent corporate scandals.

Adelphia Founder Gets 15-Year Term

  • 22 June 05
  • The Associated Press
Adelphia Communications founder John Rigas was sentenced to 15 years in prison for his role in looting and hiding debt in a scandal that bankrupted the cable television company.

Prosecutors: WorldCom 'Perfect Storm' of Fraud

  • 03 March 05
  • The Associated Press
Money, power and pressure combined to form a ""perfect storm of corruption"" that led one-time WorldCom chief Bernard Ebbers to commit an enormous fraud, a U.S. federal prosecutor said Wednesday in closing arguments.

NYSE's New Interim Chief to Be Paid $1

  • 23 September 03
  • The Associated Press
The New York Stock Exchange chose former Citigroup chairman and CEO John Reed as its interim leader for a salary of $1, less than a week after its previous chairman was forced to step down amid outrage about his compensation.

Embattled Style Queen Resigns

  • 06 June 03
  • The Associated Press
Martha Stewart stepped down as head of the company she built on gracious living -- a media empire now scarred by an indictment that could send its taste-conscious founder to prison.