Ex-Enron Executive Sentenced to Prison
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Kenneth Rice, who turned government witness and testified in the trial of former Enron CEO Jeffrey Skilling and company founder Kenneth Lay, was sentenced Monday to 27 months in prison.
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The Enron executives now face the prospect of decades in prison, but the judge's broad jury instructions give them a chance of reversing their convictions
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Andrew Fastow, who helped engineer the   financial trickery that sank Enron Corp. and then helped   prosecutors convict others involved in the scandal, received a   six-year sentence Tuesday, four years less than the deal he had   made.
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The chief operating officer of Enron Corp.&#39;s failed Internet unit pleaded guilty yesterday to a single criminal conspiracy charge and agreed to cooperate with the government, as prosecutors
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Former Enron chief executive Jeffrey K. Skilling reported to a medium-security federal prison in Minnesota today to start serving a 24-year and six-month sentence for his role in one of history's biggest corporate scandals.
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A former Goldman Sachs Group Inc   analyst was sentenced to nearly five years in prison on  Thursday for leading an insider-trading ring that netted more  than $6 million in illegal profits.
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(InfoWorld) - Kenneth Rice, former CEO of Enron Broadband Services (EBS), has been sentenced to 27 months in prison on securities fraud charges and ordered to turn over about $15 million, the U.S. Department of Justice announced Monday. The $15 million will go to victims of the fraud at Enron, the Texas energy company that filed for bankruptcy in December 2001 before investigations revealed widespread accounting fraud. Rice and others at EBS, a unit of Enron, made a series of false statements about the products and business performance in order to mislead investors about the success of the company and inflate the price of Enron's stock, the DOJ said in a press release. Rice was sentenced Monday by Judge Vanessa Gilmore at U.S. District Court for the Southern District of Texas in Houston. Rice pleaded guilty in July 2004 to a securities fraud charge and cooperated with the DOJ's investigation into the collapse of Enron. While serving as CEO at EBS, Rice conspired with others to make false statements about the company's development of various software capabilities and its fiber-optic network, the DOJ said. Rice falsely portrayed EBS as a commercial and business success and falsely claimed that network control software developed by EBS was "up and running," when in fact the software had not progressed beyond the internal development stage. These misrepresentations, including a failure to disclose to the investing public that the company stood to sustain operating losses in 2001, contributed to a sharp rise in Enron's stock price, the DOJ said. EBS entered a number of partnerships before Enron's collapse. In July 2000, Blockbuster announced that it struck an exclusive 20-year partnership with EBS to deliver video on demand by early 2001. Blockbuster began testing the service in February 2001. Kevin Hannon, the former COO at EBS, was sentenced by Gilmore earlier this month to two years in prison, and fined $125,000. Hannon pleaded guilty in August 2004 to conspiracy to commit securities fraud and wire fraud. To date, the federal Enron Task Force has brought criminal charges against 36 defendants, including 25 former Enron employees. Eighteen of those defendants have pleaded guilty or been found guilty after trial. The task force has seized more than $100 million in Enron cases.
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A former Enron Corp. executive told a  jury on Thursday that he knew the disgraced energy company had  made a bogus deal with investment bank Merrill Lynch in order  to post fraudulent profits.
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A former Enron Corp. (ENRNQ.PK: Quote, Profile, Research) assistant treasurer pleaded guilty on Tuesday in US District Court to conspiracy to commit securities fraud for disguising
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A former chief financial officer of information security company SafeNet Inc was sentenced on Monday to six months in prison for manipulating employee stock option grants.
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The former chief financial officer of SafeNet, a maker of computer network security products, was sentenced to six months in prison and fined $1 million.
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The former chief financial officer of the hedge fund Bayou Group was sentenced to 20 years in prison for his role in a scheme that defrauded investors of $450 million and led to the fundâs collapse.
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William Lerach, a top U.S. class action attorney who won billions for Enron investors, pleaded guilty on Monday to criminal conspiracy and is expected to go to prison for his role in a kickback scheme at his former law firm, Milberg Weiss LLP.
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A former Enron executive currently serving a prison term testified in the first Enron criminal trial on Wednesday that he worked on a secret deal with Merrill Lynch to fraudulently boost the disgraced energy giant's profits.
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A former top Enron official pleaded guilty Wednesday to securities fraud and agreed to cooperate fully with the ongoing criminal investigation of Enron&#39;scollapse.
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The first criminal trial involving former Enron staff is &quot;a case about cheating and lying&quot;, prosecutors say. Two Enron employees and four Merrill Lynch executives face charges relating to a transaction in Nigeria in 1999.
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A former Goldman Sachs analyst is sentenced to nearly five years in prison for an insider trading plot.