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World Equity NewsEquities Org UKMortgages, insurance, and loans for the self-employed and students Equities Org equities news has moved! How to quickly sell your house London equity markets make small gains Eurofirst highest since May 2002 Eurofirst makes small gains as Xetra Dax down Eurofirst slightly higher as elections approach London strong on double witching hour NYSE sees little movement on investor caution European equities investors worried by elections NYSE equities down on economic data Nikkei down on post-election profit-taking Nikkei down on post-election profit-taking Economic concerns hit Eurofirst and Xetra Dax Japanese elections boost Tokyo indices Xetra Dax sees fall in Allianz Utilities focus on FTSE Dow Jones sees little movement Analysts suggest Katrina will stimulate economy Investors settled by Japanese polls Banking and utilities see gains on Eurofirst FTSE makes small gains on mergers Investors consider construction boom after hurricane Investors wait in Sunday's election Eurofirst drops from 38-month highs UK Equities down despite monetary policy decision London FTSE makes only small gains Investors consider Katrina economy impact FTSE gains to three-year high |
13/07/05Ebbers sentenced to 25 years for Worldcom fraudThe founder of WorldCom, Bernard J. Ebbers, was sentenced Wednesday to 25 years in prison for his participation in accounting fraud which misstated the company’s profits by $11 billion and caused the collapse of the telecommunications giant in 2002. Federal prosecutors had asked for a sentence of life in prison. The sentence is one of the stiffest ever given to an executive charged with large-scale corporate corruption. In handing down the sentence, Federal judge Barbara S. Jones said that Mr. Ebbers deserved the sentence because his statements “deprived investors of their money” and that he was a leader of the criminal activity that led to his company’s downfall. Legal analysts said that the long sentence given to Mr. Ebbers would encourage settlements in similar cases as well as serve as a deterrent to others thinking of engaging in such misconduct. Mr. Ebbers remains free on bail for the time being, but he must report to a probation officer within 72 hours and he was ordered to report to prison on October 12. His attorney said that he would appeal Mr. Ebbers’s sentence and asked that his client be allowed to remain free on bail through the appeals process, but it was unclear whether the judge will allow that. |
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