Friday, August 12, 2005

Pensacola Shark Alert

The Chicago Tribune is reporting that Scott Sullivan, former CFO for the former Worldcom, now known as MCI, may be serving his five year federal sentence at a minimum security facility in Pensacola.

Sullivan participated in an $11 billion corporate fraud that led to the largest bankruptcy in history. After cooperating with prosecutors to put Bernie Ebbers away, Sullivan pleaded guilty himself and was sentenced this week.
At the request of Sullivan's lawyer, Irvin Nathan, [Judge Barbara] Jones said she would ask the Bureau of Prisons to place Sullivan in a minimum-security facility in Pensacola, Fla., near his home.
What "home" could that be? Not Boca Raton, which a former SEC chief has called "the only coastal town in Florida where there are more sharks on land than in the water," according to Forbes Magazine.

Sullivan originally tried to stuff his other people's money safely away in a multi-million dollar mansion there. But he recently sold the house and his lawyer now says Sullivan owns nothing.

So, now Boca Raton gets the rich sharks and Pensacola gets the poor ones. Life in the Florida panhandle just ain't fair.

No comments: