Ex-Wall Street Banker Sentenced in Federal Obstruction Case
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rank P. Quattrone, the Wall Street banker whose pay and deals made him a vivid symbol of the 1990&#39;s technology boom, was sentenced to 18 months in prison yesterday for obstructing a government
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A U.S. jury on Monday found a former Credit Suisse Group  investment banker guilty of insider trading and conspiracy.
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Former investment banker Frank Quattrone was sentenced on Wednesday to 18 months in prison, two months more than the harshest recommended penalty, for obstructing probes
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Former high-flying investment banker Frank P. Quattrone is about to find out just how unlucky he is. Convicted in May, Quattrone, 48, is scheduled to be sentenced on Wednesday
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Frank Quattrone, the most prominent investment banker of the 1990s technology boom, was yesterday sentenced to 18 months in prison for obstructing an investigation into the allocation of hot stock offerings during the bull market.
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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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An insurance chief and two of his directors face sentencing after being convicted of defrauding investors.
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Enron Corp.&#39;s former top investor relations executive pleaded guilty Wednesday to a securities fraud charge. Mark Koenig, 49, pleaded guilty to one county of aiding and abetting securities fraud, which carries a maximum penalty of 10 years in prison.
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Former Enron executive Andrew Fastow, who pleaded guilty to fraud, will be sentenced on Tuesday.
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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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Good-bye, Frank Quattrone. The investment banker who became famous in money circles as one of Silicon Valley's main pipelines to Wall Street cash during the 1990s boom heard the bad news yesterday. A federal judge in New York gave him 18 months in prison, a slightly tougher stretch than the sentencing guidelines suggested. Expect the normal cycle of appeals, but ...
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A former chief financial officer at the golf apparel company Cutter &amp; Buck has been sentenced to three months in prison for covering up a multimillion-dollar accounting fraud.
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A former corporate executive was sentenced on Tuesday to 20 years in prison and ordered to pay $165 million restitution in a massive Florida fraud against Portuguese bank Banco Espirito Santo, prosecutors said.
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Frank Quattrone, considered the most prominent investment banker of the 1990s technology boom, has been sentenced to 18 months in prison.
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_ Former star investment banker Frank Quattrone asked a federal appeals court Wednesday to let him stay out of prison while he appeals his conviction on obstruction-of-justice charges.
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A New York man who was sentenced some five years ago for his role in a securities fraud scheme was arrested on Tuesday for allegedly defrauding investors of millions of dollars in a foreign exchange scam.
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TOPEKA, Kan., Feb. 5  â A federal judge on Monday sentenced the former chief executive of Westar Energy, David C. Wittig, to 24 months in prison for bank fraud, cutting his sentence by more than half.