LAWFUEL – The Legal Newswire – A federal judge closed a chapter in the Enron story Monday by ordering a 27-month prison term for the former head of the company’s broadband division, the last to be punished of former executives who admitted to crimes, the Houston Chronicle reports.
Loose ends remain in the Enron criminal investigation after the sentencing of former broadband division CEO Kenneth Rice, who pleaded guilty in 2004 to securities fraud.
Former Enron CEO Jeff Skilling, who is serving a 24-year prison term for 19 criminal counts, has yet to appeal. Three British bankers await trial on fraud charges in October. Other appeals and retrials are on tap.
But Rice’s sentencing concludes the government’s last move in culling Enron insiders to pursue the company’s top executives. He was among 15 former employees who pleaded guilty and cooperated with prosecutors, receiving punishments ranging from probation to six years behind bars.