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Bernie Ebers, dubbed the “telecom cowboy,” oversaw rapid expansion at WorldCom via aggressive acquisitions. However, when growth stalled, Ebers and his executives resorted to massive fraud to inflate assets by nearly $11 billion. Their elaborate scheme masked deteriorating financial health, misleading investors and regulators.
The unraveling in 2002 led to one of the biggest corporate scandals in US history, with the company filing for bankruptcy and Ebers receiving a 25-year prison sentence. He served 13 years before his death, leaving behind a legacy marred by deception and greed.