Bernard John Ebbers

Bernie Ebbers was a Canadian businessman who co-founded and led WorldCom, one of the largest telecommunications companies in the world. He started his career as a milkman and a bouncer, and later operated a chain of motels in Mississippi. In 1983, he and three other investors formed Long Distance Discount Services, Inc., which later became WorldCom. He oversaw the rapid growth and expansion of the company through numerous acquisitions, including the $37 billion takeover of MCI Communications in 1998. He was known as the "Telecom Cowboy" for his unconventional style and aggressive business strategies. However, his empire collapsed in 2002 when it was revealed that WorldCom had committed a massive accounting fraud, inflating its revenues and profits by $11 billion. Ebbers was accused of orchestrating the fraud and pressuring his subordinates to falsify the financial statements. He was convicted of securities fraud, conspiracy, and other charges in 2005 and sentenced to 25 years in prison. He maintained his innocence and appealed his conviction several times, but was denied. He was released from prison in December 2019 due to his deteriorating health condition, and died a month later at the age of 78.