AbstractOn March 15, 2005, former WorldCom CEO Bernard Ebbers sat in federal court awaiting the verdict. As the former CEO of WorldCom, Ebbers was accused of being personally responsible for the financial destruction of the communications giant. An internal investigation had uncovered $11 billion in fraudulent accounting practices. A second report in 2003 subsequently found that during Ebber's tenure as CEO in 2001, the company had overstated earnings and understated expenses by an astonishing $74.5 billion (Martin, 2005, para 3). This relationship included mismanagement of funds, unethical lending practices among its senior executives, and false accounting that led to the loss of tens of thousands of employees. On March 15, 2005, Bernard Ebbers sat in federal court awaiting the verdict. As the former CEO of WorldCom, Ebbers was accused of being personally responsible for the financial destruction of the communications giant. By July 2002, an internal investigation had uncovered $11 billion in fraudulent accounting practices. A second report in 2003 found that during Ebber's tenure as CEO in 2001, the company had overreported earnings and underreported expenses by a staggering $74.5 billion (Martin, 2005, para 3). This report included mismanagement of funds, unethical lending practices among its senior executives, and false accounting that led to the loss of tens of thousands of employees. They also uncovered a series of cunning manipulations designed to bury nearly $4 billion in misallocated expenses and bogus accounting entries (Moberg &, Romar, 2002, section 5, paragraph 1). Hoping to sway the jury with an "ignorance is a blessing" defense, he prepared for the verdict. In hi... middle of the paper...rell, G (2005). Ebbers repeats: I didn't know. United States today. Retrieved October 18, 2008, from http://findarticles.com/p/articles/mi_kmusa/is_/ai_n13279917Felton, E (2007). Why CEOs and companies break the law. Retrieved October 18, 2008, from http://www.freedom-to-tinker.com/blog/felten/why-ceos-and-companies-break-lawFinnamore, C. (2004). Ignorance is not a defense. Retrieved October 18, 2008, from http://www.freedom-to-tinker.com/blog/felten/why-ceos-and-companies-break-lawGold, S. (2008). Normative ethics: utilitarianism and deontology. Retrieved October 20, 2008, from http://cdad.tuiu.edu/CourseHomeModule.aspx?courseMartin, P. (2005). Ebbers Pleaded Guilty of Fraud at Worldcom: A Case Study in US Corporate Crime. Retrieved October 18, 2008, from http://www.wsws.org/articles/2005/mar2005/ebb-m18.shtml