Ex-WorldCom CEO tied to $11 billion fraud granted early release from prison

Former WorldCom CEO Bernie Ebbers has been granted an early release from prison after serving 13 years of a 25-year sentence.

A federal judge granted Ebbers’ early release on Wednesday due to what his family says is failing health.

Ebbers, now 78, was convicted in March 2005 on nine felony counts for his role in the $11 billion fraud at WorldCom, one of the biggest accounting frauds in history. In addition to his prison sentence, he agreed to forfeit most of his assets, worth as much as $45 million, which were used to pay some of the people and entities impacted by the fraud.

Shortly after Ebbers stepped down as CEO of WorldCom in 2002, the company filed for bankruptcy. At the time, it was the largest Chapter 11 filing in US history.

The charges on which Ebbers was convicted carried a maximum sentence of 85 years.