Criminal Defense News

Former WorldCom, Enron Chiefs Elude Criminal Charges

By David E. Rovella
Bloomberg News
Sunday, August 17, 2003

More than a year after the two biggest corporate frauds in U.S. history wiped out billions of dollars in assets and workers' pensions at WorldCom Inc. and Enron Corp., the chief executives who led those companies remain free of criminal charges.
Bernard Ebbers, Kenneth Lay and Jeffrey Skilling may never face prosecution, according to former federal prosecutors and securities lawyers.

Federal prosecutors are still investigating Ebbers, the former milkman and bouncer from Alberta, Canada, who over 17 years transformed a small discount telephone company into WorldCom, the second-biggest U.S. long-distance service.

The former chief executive officers of Enron -- Lay and Skilling -- are also still under investigation, 19 months after the world's largest energy trader collapsed owing $67 billion to creditors.

copyright © 2003 by The Tribune-Review Publishing Co.

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	Did You Know?
	Plea Bargaining - a process whereby the prosecutor and defense attorney negotiate Process whereby the prosecutor and defense attorney negotiate a mutually satisfactory disposition of the case. The court and the defendant must approve of any settlements. For example, a guilty plea may be exchanged for a lesser charge or a sentencing recommendation, or for dismissal of one or more of the charges in a multi-count information, or for dismissal of another case.