Sentencing
Ex-Enron Executive Sentenced
The former CEO of Enron’s broadband unit was sentenced today to 27 months in prison for misleading investors.
Kenneth Rice will also pay a $50,000 fine and forfeit more than $13 million in cash and property, the Houston Chronicle reports. He was accused of lying about the capabilities of the unit.
Rice is the last of the Enron executives who pleaded guilty to be sentenced. He testified against former Enron CEO Jeffrey Skilling, who had at one time been a close friend, Bloomberg News reports.
