Ex-WorldCom Exec Gets 1 Year and 1 day in Prison

[bufffbison]

http://biz.yahoo.com/ap/050809/worldcom_fraud.html?.v=11

Ex-WorldCom Exec Gets 1 Year in Prison
Tuesday August 9, 12:22 pm ET
By Erin Mcclam, Associated Press Writer
Ex-WorldCom Accounting Director Buford Yates Is Sentenced to One Year and One Day in Prison


NEW YORK (AP) -- The former director of general accounting at WorldCom was sentenced Tuesday to one year and one day in prison for his role in the company's record $11 billion fraud.
The sentence for Buford "Buddy" Yates, 49, came nearly three years after he pleaded guilty to helping WorldCom overstate its earnings from 2000 to 2002 in a scandal that bankrupted the telecom company.


Yates pleaded guilty to fraud in October 2002, telling a judge he was instructed by superiors to make adjustments to company books that had "no justification" and were designed to meet Wall Street expectations.



boy i cannot believe this shit. if a poor woman stole a loaf of bread and milk from a grocery store to feed her children, she'd be sentence to prision for five years!! i cannot believe this fucking bullshit!

[trogdor]

1. How much money was stolen in "The Italian Job"?

600 million in the version with George Clooney, if memory serves.

One stinking year in jail? In the real world, you'd get your legs broken, or you'd go to federal pound-me-in-the-ass prison until the Cubs won a Pennant, or both.

[MaineDem]

2. It's enough to make one's head explode

Frustrating, no?

:grr:

[tk2kewl]

3. so much for the 14th Amendment

let's see...

1st Amendment ... shot
4th Amendment ... toast
14th Amendment ... gone

[VegasWolf]

4. The wealthy Republicans have their tiny little club for billionaires. nt

[Deja Q]

5. And he gets to keep his "earned" money too.

What a world we live in... utterly bizarre and Christ would NOT approve.

[kcwayne]

6. The message is very clear

If you are going to steal, steal really, really big.

[leftofthedial]

7. class war

we lose!

[VegasWolf]

8. and they get the silver eating utensils! nt

[Sgent]

9. Buddy Yates

also co-operated with the prosecution and was instrumental in the conviction of Bernie Ebbers. I would have liked a longer sentance, but it wasn't a complete SOP to business.

[VegasWolf]

10. But if you are black in the South and rob a 7-11 for $30.00 you can

kiss your ass goodbye.

[mom cat]

11. And Sonny Boy Lay is still scott free!

[despairing optimist]

13. But Florida threw the book at that teenager who burned the flag

We are a nation of laws, after all. ;-)

[mom cat]

17. It is all relative...and my relatives don't get those kind of breaks!

[Megahurtz]

12. Just a Little Fucking Slap on the Wrist.

How Cute. :sarcasm:

I am so sick of this corporate fraud bullshit.
I am sure that this guy and his cohorts devastated thousands of lives over this.
I am so fucking sick of these white collar criminals getting away with this shit.:puke:

[Coventina]

14. We need to oil up some guillotines

I'm against the death penalty....but don't tell them that.

If we get some guillotines ready, maybe they'll start rethinking their arrogant "let them eat cake" mentality.

[lakeguy]

15. you know what would be fair...

take these f'ers for all they're worth! every last penny. no jail time, and only food stamps to get by until they get a REAL job at wal*art. see how they like it.

instead they get to live on OUR dime in prison that likely has more amenities than my apartment.

[Al-CIAda]

16. Boston Tea Party anyone? nt

[Chicago Democrat]

18. Not sure about this... He was only the accountant and took orders

from above. I think the sentence is fair. Ebbers got 25 years and he's the guy that really did this. Not some accountant. Yes he didn't turn his boss in, but accountants, esp in-house corporate accountants do as they are told.