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Ebbers Is Appealing

The Bernie Ebbers defense team, which was led by Reid Weingarten, was unable to convince the jury that Ebbers was unaware of the $11 billion fraud that eventually sank the telecom giant, WorldCom, which has since resurfaced as MCI (Nasdaq: WCOEQ, MCWEQ). (See Ebbers: Of Motels & Men.)

Ebbers, the former WorldCom CEO, was found guilty of securities fraud, conspiracy, and seven counts of false filings with the Securities and Exchange Commission (SEC) (see Ebbers: GUILTY!).

Weingarten and his team will appeal the verdict, and a key part of that appeal could be the confusion surrounding the supplemental charges, which emerged during the jurys deliberations last week.

The supplemental charges detailed the broader impact of the fraud. Last week, jurors sent a note to Judge Barbara Jones asking whether they had to agree with these charges in order to find Ebbers guilty.

Jones instructed the jury not to take the supplemental charges into consideration, reportedly saying they should not have been included in the indictment.

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