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CEOs & SCANDAL.(News)(Brief article)
Crain's Chicago Business, March, 2007
WORLDCOM: BERNARD EBBERS Accused of: Conspiracy and securities fraud that cost shareholders $180 billion when WorldCom went bankrupt in 2002. Defense: Ignorance. Using so-called "aw-shucks" defense, he claimed he was unfamiliar with finance and accounting. Verdict: Guilty. Serving 25 years in prison.
TYCO: DENNIS KOZLOWSKI Accused of: Fraud to the tune of $400 million and grand larceny for more than $150 million in unauthorized compensation. Defense: Admitted his pay was "almost embarrassingly big," but claimed he did nothing wrong. Verdict: Hung jury in first trial. Found guilty in retrial. Serving 8 to 25 years. ENRON: JEFFREY SKILLING Accused of: Conspiracy, fraud and insider trading related to alleged earnings manipulation in Enron...
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