A sordid chapter on Enron is ending

Source: Houston Chronicle

Kenneth Rice is the final figure to be punished after pleading guilty to crimes in the scandal


Nearly 5½ years after Enron crumbled in scandal, the last of 15 former company executives who pleaded guilty to crimes is about to be punished.

And if former broadband division CEO Kenneth Rice is sentenced to prison today, he'll be the ninth of them to live in a cell for helping hide or perpetuate fraud. He pleaded guilty in 2004 to securities fraud, and his sentence could range from probation to 10 years in prison.

The eight prison terms imposed so far on Enron defendants who have plea-bargained and cooperated with prosecutors range from one to six years — a fraction of the 24-year, four-month term being served by former Enron CEO Jeff Skilling.

The cooperators admitted to one or two crimes, and some had dozens of other charges dismissed. Skilling was convicted of 19 at his trial.

Adam Gershowitz, an assistant professor at South Texas College of Law in Houston, said the difference illustrates the benefit afforded cooperators who admit to a crime or two and help prosecutors rather than hope a jury will acquit.



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