The verdict marked a colossal fall for Ebbers, who had turned a humble Mississippi long-distance provider into a global telecommunications power, swallowing up companies along the way and earning the nickname "Telecom Cowboy."

A federal jury in Manhattan returned guilty verdicts on all nine counts, including securities fraud, conspiracy and lying to regulators -- a decision that could send Ebbers, 63, to prison for the rest of his life. Sentencing was set for June 13.

The former chief executive reddened deeply when the jury announced its verdict after eight days of deliberations, and his wife, Kristie, burst into tears in the courtroom's front row. Later, as his lawyer spoke outside, promising an appeal, Ebbers and his wife -- nearly toppled by the enormous crew of cameras and reporters camped outside the federal courthouse -- made their way to a nearby street, hailed a cab and drove away.