Wall $treet Folly

Bernie Ebbers prison bound on 9/26 unless he's way-Layed

CNBC is reporting that convicted former Worldcom CEO Bernie Ebbers has to report to prison before 2PM on 9/26.  Unless, of course, he manages to pull a Ken Lay.

Bernie Ebbers Conviction upheld by appeals court

Worldcom CEO Bernie Ebbers has failed in his attempt to get his conviction overturned.  His lawyer had argued that Ebbers didn't get a fair trial because three former Worldcom executives, who the defense believed would give testimony to support Ebbers' case, weren't given immunity by the government.

The ruling by the three judge panel of the U.S. Second Circuit Court of Appeals could clear the way for Mr. Ebbers to begin serving a 25-year prison sentence for his actions as head of the onetime telecommunications giant.