Disgraced business figure Bernie Ebbers

Now reposing in prison on a 25-year sentence, former WorldCom CEO Bernard Ebbers was, as of 2005, at least, at the center of the biggest corporate fraud case in U.S. history. Since then, that dubious distinction has been claimed by another Bernard, this one having the last name of Madoff.

Ebbers, a large, forceful fellow, launched his business career in 1974 by buying an old Mississippi motel. From this humble beginning, he built a chain of motels, and in 1983, he helped found Long Distance Discount Services, Inc., also in Mississippi. This long distance company bought up other similar companies and in 1995, became WorldCom, with Ebbers as CEO.

WorldCom bought MFS Communications for $12 billion the next year and in 1998, it acquired MCI, for $40 billion.

In 1999, Ebbers' troubles began when he tried to take over Sprint Communications as well,at a price tag of $115 billion. Federal anti-trust regulators began to intervene, and that deal fell through. When that happened, WorldCom's stock price plunged as well, and a lot of people lost a lot of money.

Ebbers resigned in 2002. The colorful Sunday school-teaching, cowboy boot-wearing Ebbers came under allegations of securities fraud and conspiracy that same year, and his corporation was shown to have engaged in what very kind people might term "creative accounting."

He was indicted in 2003, but charges were dropped. Ebbers was again indicted in 2004, and in 2005, he was found guilty. After his appeal failed, he reported to prison in 2006 and, barring a presidential pardon, will be in his mid 80s when he emerges.