Is Bernie Ebbers giving up?

It sure sounds like it from this news account of his settlement of the civil matters against him:

Former WorldCom boss Bernard Ebbers will give up nearly everything he owns — including his Mississippi home and his stake in a golf course — in a settlement with angry investors in the fraud-toppled company.

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Authorities involved in the settlement said Ebbers must sell his multi-million-dollar home in Clinton, Miss., and his family must move out of it by Oct. 31.

In addition, Ebbers' property, including thousands of acres of timberland and his stakes in a golf course, a lumber company, a trucking company and a rice farm, will go into a liquidation trust.

For most of the property, 75 percent of the proceeds will go to the investors. MCI, the post-bankruptcy version of WorldCom, will get 25 percent.

Sean Coffey, a lawyer for Hevesi, said a "modest" living allowance would be made for Ebbers' wife, Kristie. He would not give the amount. Money will also be set aside for Ebbers' legal bills.

(Note: the settlement still has to be approved by the judge.)

Ebbers still gets money for his legal bills, so I presume he'll be able to pay for counsel to appeal his conviction (as opposed to having to ask for a public defender).  Still, settling the civil matters means that even if he were to get his conviction overturned, he'd be virtually penniless.

On a marginally related note, I was across the deposition table, so to speak, from the plaintiffs' lawyer mentioned in the story (Sean Coffey).  He was one of those lawyers who tried to make the witness feel like he was the witness' good buddy during the deposition.  His partner, on the other hand, was the "bad cop" with those witnesses the partner deposed.  (My role in the matter was very limited, as I was one of about ten lawyers on our side of the table.)

Comments

[JJ]

Sean Coffey, a lawyer for Hevesi, said a "modest" living allowance would be made for Ebbers' wife, Kristie. He would not give the amount.

I realize this is nothing out of the ordinary but whenever I hear "modest allowance", I can't help but think of that bit Chris Rock did about Nicole Brown and the OJ trial (the "I am not saying he should have [...] but I understand" stand-up bit).