Former WorldCom Inc. chairman Bernard Ebbers was convicted Tuesday of leading the US$11-billion accounting fraud that plummeted the company into bankruptcy.

The Edmonton-born Ebbers, who pleaded ignorance of accounting matters and claimed he was unaware of fraud within his company, was found guilty in a New York court of one count of conspiracy, one count of securities fraud and seven counts of false regulatory filings.

The sentencing, which could carry a prison term of 85 years, is set for June 13. Ebbers’ lawyer Reid Weingarten said he will appeal the verdict.

Worldcom’s market value bled by about $180-billion and its stock went into a free-fall before the company filed for bankruptcy in July 2002.