Ex-Enron CEO Seeks Separate Trial
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Lawyers for former Enron Corp. (ENRNQ.PK: Quote, Profile, Research) chief executive Jeffrey Skilling on Friday asked a federal court to separate his trial from his former boss Ken Lay&#39;s
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A criminal trial scheduled to start Monday involving former Enron Corp. executives may shine a rare and potentially harsh spotlight on the inner workings
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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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Two former Enron executives are set to appear in court in Houston in the first criminal trial involving Enron staff since the firm's collapse in 2001.
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Former Enron chair Ken Lay has been pressing to be tried on his own. A judge may have just given Lay more than he bargained for, as prosecutors ready for what could be one of the biggest corporate crime prosecutions in history.
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Former Enron Corp.  Chairman Ken Lay and former chief executive Jeffrey Skilling asked a federal court to move their trial out of Houston, arguing in a filing on Monday that any jury in Enron's hometown would be biased.
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While criminal trials await other former Enron Corp. executives, the Houston-based company&#39;s former director of investor relations has agreed to pay $1.
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Former Enron Corp. Chief Executive Jeff Skilling asked a U.S. appeals court on Friday to throw out his convictions stemming from the one-time energy trading giant's spectacular rise and dramatic collapse.
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Former Enron chief executive Jeffrey K. Skilling today appealed criminal convictions that sent him to prison for more than 24 years, seeking a new trial and citing "profound, inherent weaknesses in the government's case."
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Opening arguments in the first criminal  case against former Enron Corp. employees are set to begin  after a federal court spent Monday whittling down a panel of  Houston-area residents to find an impartial jury in the city  still stinging from the company's downfall.
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The first executives to go to trial in the Enron scandal will have to wait at least another day to make their final pitch to the jury.
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After three postponements, the first criminal trial involving former energy giant Enron Corp. is finally scheduled to begin today in federal court in Houston.
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A U.S. judge has ruled that a lawsuit  filed by Enron investors can go to trial in April as planned  even though an appeals court has not yet issued a key decision  on whether the plaintiffs can be allowed to join as a group.
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The first criminal trial to emerge from Enron Corp.&#39;s 2001 collapse â-ver the alleged sham sale of river barges in a scheme to help the energy company meet earnings targets â -ld stretch into a second phase.
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The first criminal trial involving former executives of the now infamous energy company, Enron, begins today in a case that could have a crucial bearing on future trials of the company&#39;s top officials.
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The first criminal trial involving former Enron Corp. executives "is a case about cheating and lying" with Wall Street's help, a prosecutor said Tuesday.
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HOUSTON A judge in Houston has delayed the March trial of five former executives from Enron&#39;s defunct broadband unit. US District Judge Vanessa Gilmore granted the month-long postponement because a lawyer