Byline: ERIN McCLAM Associated Press
NEW YORK - A judge gave her blessing Monday to a settlement under which former WorldCom chief Bernard Ebbers will forfeit nearly all his cash and personal assets - as much as $45 million.
U.S. District Judge Denise Cote gave preliminary approval two days before Ebbers, 63, faces sentencing and almost certain lengthy prison time, on his criminal conviction in the WorldCom fraud.
The civil settlement, which springs from a suit filed by angry former investors in the toppled telecom, will leave a modest Mississippi home for Ebbers' wife and about $50,000 for her to live on.
"Basically we left them with their …
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