Enron broadband chief gets 27 months prison |
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Mon, 18 Jun 2007 20:11
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LONDON (Thomson Financial) - Kenneth Rice, who led a failed effort by scandal-plagued Enron in high-speed internet, was sentenced to 27 months in prison for his role in defrauding investors in the energy giant, authorities said.Rice, who had been chief executive of Enron Broadband Services (EBS), also was ordered to forfeit 15 mln usd to be used to compensate victims of the Enron fraud, the Justice Department said.The executive had pleaded guilty to securities fraud charges, and cooperated with the US government's investigation into the collapse of Enron.Rice admitted that he and others made a series of false statements about the prospects for broadband in a bid to artificially inflate the price of Enron stock.tf.TFN-Europe_newsdesk@thomson.comrwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Ex-Enron broadband head sentenced 