Edit: The article is now ready.
A federal jury in New York, on its eighth day of deliberations, convicted Ebbers on all nine counts that he helped mastermind a $11 billion accounting fraud at WorldCom, now known as MCI.
The verdict comes two days before a massive securities fraud class action brought by WorldCom investors against more than a dozen investment banks, including many of Wall Street's top names, is set for trial. Settlements in that case total $4 billion, making it the largest securities class action settlement ever.
WorldCom first disclosed the accounting irregularities that led to Ebbers' prosecution and the investor lawsuit in June 2002. The news catapulted the No. 2 long-distance phone giant into the top tier of companies then reeling from accounting scandals, among them Tyco International, Global Crossing, Adelphia Communications and Enron.