CNBC’s Power Lunch interviews former SEC attorney Christoper Bebel about Bernard Ebbers, the CEO of WorldCom, and found guilty of all charges of Conspiracy, Fraud and false SEC filings.

Bernie Ebbers was the CEO of WorldCom a telecom company that he was a part of almost from its humble beginnings. It was founded in 1983, and Ebbers became CEO in 1985 and saw its meteoric rise to a global corporation through his ‘cowboy’ style in the 1990’s buying spree of other telecoms. In the late 1990’s after the failed merger with Sprint, WorldCom started losing massive amounts of money that was then covered up by Ebbers in an attempt to hide its losses in an accounting coverup.

The trial found Ebbers guilty yet his lawyer, Reid Weingarten, felt with the trial errors and the evidence of the case that it would have been dismissed. He expounded on the legality of CEO’s and their duties to their corporation, but that wrongdoing that they are unaware of is not part of their legal responsibility.

Bebel feels that their biggest tactical mistake was putting Bernie Ebbers on the stand which in the end cost them the trial and resulted in a conviction.

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