New Majority owners for KLLM
KLLM Transport Services, Richland, Miss., has been sold to a group of Jackson, Miss., investors, as some of the last assets of ex-WorldCom CEO Bernie Ebbers were sold of
KLLM Transport Services, Richland, Miss., has been sold to a group of Jackson, Miss., investors, as some of the last assets of ex-WorldCom CEO Bernie Ebbers were sold off
as part of a lawsuit settlement stemming from the accounting scandal that sent him to prison for 25 years.
Ebbers had a majority stake in KLLM, according to Mississippi's Clarionledger.com. In March, a group of Jackson investors bought out Ebbers' stake, but the names of the buyers were not revealed.
KLLM President and CEO Joe Richards told the paper they were "glad that's behind us" and emphasized the company is here to stay, predicting that the refrigerated carrier would be able to pick up business as the high fuel prices drive some smaller companies out of business. KLLM did recently drop its dry van business to focus on its core business of climate-controlled trucking, according to the paper.
Ebbers was convicted of fraud and conspiracy in 2005 for his role in the $11 billion WorldCom scandal.
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