Bernie Ebbers, disgraced former head of communications empire WorldCom, begins his 25 year sentence for his $11bn fraud today.
The 65 year old was convicted of nine counts of conspiracy, securities fraud and other crimes last year and has spent the intervening period appealing against his verdict and the length of his sentence. He will have to serve at least 85 per cent of his sentence.
The location of Ebbers' prison will not be known but is thought to be the Yazoo City Federal in Mississippi, known as a 'Club Feb' facility for its lack of strict rules or violent prisoners. This would allow Ebbers to stay close to his family and doctors, as he has a serious heart condition.
When Worldcom collapsed it was the biggest corporate bankruptcy the US had seen. The collapse of Worldcom cost investors 180bn and put 20,000 people out of work.
