Too stupid to commit fraud

| TrackBacks (17) |
Bernard Ebbers's defense appears to be that he was too stupid to do what he was accused of:
Mr. Ebbers also said he was ignorant about accounting in general. "I know what I don't know," he said, referring to his lack of understanding of the technology WorldCom sold as well as its finances.

He testified that he did poorly in college, where his "marks weren't too good," and that he bounced from one job to another, working as a milkman, basketball coach and warehouse manager, before he and a small group of investors started the predecessor of WorldCom in 1983.

This is certainly a plausible story, since WorldCom's revenues were on the order of 30 billion a year. I make a lot less than 30 million a year and I still need an accountant to do my taxes. It's easy to believe the Ebbers didn't understand any of the details of what his accountants had done.

Of course, the problem for this account is that Scott Sullivan, WorldCom's former CFO says that he told Ebbers that the accounting changes "weren't right". If my accountant tells me that, I'm going to get pretty nervous, even if I don't understand exactly what IRS regulation I'm supposedly breaking...

17 TrackBacks

Listed below are links to blogs that reference this entry: Too stupid to commit fraud.

TrackBack URL for this entry:

TITLE: normal blood pressure URL: IP: BLOG NAME: Blood Pressure DATE: 04/13/2005 07:26:56 AM Read More

texas hold em from texas hold em on June 13, 2005 12:25 PM

You may find it interesting to check out the sites in the field of poker games party poker Read More

pills from pills on July 3, 2005 3:55 PM

You can also check out the pages about protonix quit smoking alprazolam Read More

refinance from refinance on July 21, 2005 5:54 PM

Please check some information in the field of loan payment calculator home equity loans Read More

vegas rock star poker from vegas rock star poker on September 16, 2005 9:45 AM

In your free time, take a look at the pages dedicated to Where Can I Play Texas Holdem Poker for Free Read More

casino quality poker chips from casino quality poker chips on September 26, 2005 11:50 PM

You can also check out the pages in the field of casino pechanga Read More

black jack luck from black jack luck on October 16, 2005 3:30 PM

You may find it interesting to check out some helpful info about texas hold em gratis Read More

Nastycomix Family guy hentai cartoons Rape comix free download Toon sluts movies Read More

Toon video links forums from Download sexy cartoon movie on October 23, 2005 2:05 AM

Video xxx hentai download free Manga porn free trailer Indian sex hot movie clip Free voluptuous nude galler... Read More

TITLE: Just letting you know - your site is fantastic! URL: IP: BLOG NAME: DATE: 12/08/2005 02:38:05 AM Read More

Women getting fucked by dogs hard from Free download video gallery on December 31, 2005 8:22 AM

Xxx indian thumbnails Download mpeg sex free African woman in the nude Asiananimalssexf... Read More

ativan drug from ativan drug on January 8, 2006 8:16 AM

ativan drug Read More

Cash Advance Pay Day Loans from Cash Advance Pay Day Loans on January 24, 2006 8:48 AM

Instant pay day loan self-discipline instant pay day loan faxless pay day loans walloping faxless pay day loans. Read More

Online Free Poker from Online Free Poker on February 11, 2006 2:10 AM

Online poker games nonracial online poker games poker rooms waist-length poker rooms. Read More

Boxing Wagering from Boxing Wagering on February 28, 2006 1:05 PM

Horse racing betting uttermost horse racing betting horse racing handicapping vocational horse racing handicapping. Read More