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Enron Executives

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BUSINESS
April 12, 2002 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
A federal judge Thursday cleared the way for Enron Corp. executives and directors to start collecting insurance payments to cover their legal bills arising from the nation's biggest business failure. Opponents had argued it would be improper for payouts to go to people who might have helped destroy Enron. But Judge Arthur J. Gonzalez in U.S. Bankruptcy Court in Manhattan said the officials are entitled to legal coverage under the company-purchased insurance policies.
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BUSINESS
February 2, 2007 | From Reuters
A federal judge has overturned the jury conviction of Kevin Howard, a former executive in Enron Corp.'s defunct broadband unit, citing an appeals court opinion issued in August. In May 2006, a jury in U.S. District Court in Houston found Howard guilty on five counts of conspiracy, wire fraud and falsifying books related to his role in a sham deal that prosecutors said hid the broadband unit's weak finances. In the opinion from the U.S.
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BUSINESS
October 6, 2004 | From Bloomberg News
Former Enron Corp. Assistant Treasurer Timothy Despain was charged in federal court in Houston with conspiracy to commit securities fraud and has agreed to cooperate with U.S. prosecutors investigating the company. Despain, who worked at Enron from January 1999 to May 2002, waived being indicted by a grand jury and agreed to appear before a federal judge to plead guilty to one count of securities fraud conspiracy.
NATIONAL
December 3, 2006 | Lianne Hart, Times Staff Writer
Five years after Enron Corp. filed for bankruptcy, "Enron -- The Musical" opened Friday in a mostly filled theater here with 2 1/2 hours of toe-tapping songs immortalizing the collapse of the 7th-largest company in America. Though the Enron debacle is a sensitive subject in a city still stinging from lost jobs and retirement savings, the show's author, Mark Fraser, is gambling that at this point, Houstonians are ready to laugh a little.
BUSINESS
September 27, 2004 | From Associated Press
More than two years after becoming the first former Enron Corp. executive to plead guilty to crimes, Michael Kopper is about to make his debut on a witness stand. Kopper, 39, was at the epicenter of financial schemes allegedly coordinated by his boss, former Enron finance chief Andrew S. Fastow. The schemes funneled millions of dollars into their pockets and eventually fueled the energy company's crash into bankruptcy in December 2001.
NEWS
February 10, 2002 | JEFF LEEDS, TIMES STAFF WRITER
Two top Enron Corp. executives criticized for failing to oversee the energy giant's complex partnerships are negotiating their exit from the company and are expected to respond to the allegations against them at a closed board meeting Tuesday, their lawyer said Saturday. The two executives, Chief Accounting Officer Richard A. Causey and Chief Risk Officer Richard B. Buy, remain under contract to the fallen energy-trading company.
BUSINESS
May 26, 2006 | Thomas S. Mulligan, Times Staff Writer
Handing the government its biggest victory in its war on corporate corruption, a federal jury Thursday found former Enron Corp. executives Kenneth L. Lay and Jeffrey K. Skilling guilty of conspiracy and fraud in connection with the 2001 collapse of the onetime energy trading giant. Jurors said they rejected the defense that there was no crime at Enron -- that Lay and Skilling were unfairly targeted by a government bent on making them the scapegoats for their company's failure.
ENTERTAINMENT
February 3, 2006 | From Associated Press
The documentary "Enron: The Smartest Guys in the Room" has won the Writers Guild award for documentary screenplay. The prize recognized writer Alex Gibney, who also produced and directed the film. It came Wednesday, two days into the much-awaited criminal trial of former Enron Corp. executives Kenneth L. Lay and Jeffrey K. Skilling in Houston.
BUSINESS
February 9, 2005 | From Reuters
A former assistant treasurer of Enron Corp. has agreed to pay $300,000 to settle civil fraud charges related to the company's collapse, the Securities and Exchange Commission said. Timothy DeSpain pleaded guilty in October to related federal criminal conspiracy charges. According to the SEC complaint and DeSpain's agreement with federal prosecutors, he admitted to conspiring with other Enron executives to manipulate the company's credit rating.
OPINION
April 7, 2002
Thanks for "3rd Man Accused in Insurance Dept. Scandal," your April 3 update on former Insurance Commissioner Chuck Quackenbush. If he continues to get away from it all while living happily ever after in Hawaii, the people of California must admit that crime does pay in this state. What he did is no better or worse than the off-balance-sheet debt scheme concocted by certain Enron executives and their cronies. What is wrong with both is that it takes much too long to prosecute the main characters.
BUSINESS
November 18, 2006 | From the Associated Press
Two former Enron Corp. executives received sharply reduced sentences Friday after cooperating with prosecutors to help convict the architects of the biggest scandal in U.S. corporate history . Michael J. Kopper, once the top lieutenant to former Enron Chief Financial Officer Andrew S. Fastow, was sentenced to three years and one month in prison. An hour later, Mark E. Koenig, the company's former investor relations chief, received an 18-month sentence.
BUSINESS
November 16, 2006 | From the Associated Press
Richard A. Causey, the last of the top Enron Corp. executives to learn his punishment, was sentenced Wednesday to 5 1/2 years in prison for his role in one of the biggest corporate scandals in U.S. history. Causey, the energy trading company's former chief accounting officer, pleaded guilty in December to securities fraud two weeks before he was to be tried along with Enron founder Kenneth L. Lay and former Chief Executive Jeffrey K. Skilling on conspiracy, fraud and other charges.
BUSINESS
October 7, 2006 | From the Associated Press
Enron Corp.'s former No. 2 executive in investor relations and later its corporate secretary was sentenced to two years' probation for insider trading. Paula Rieker, 52, had faced as many as 10 years in prison. Prosecutors requested the reduced sentence because Rieker aided Enron scandal investigators. Rieker pleaded guilty in May 2004 to insider trading for selling Enron shares in mid-2001 upon learning that its broadband division lost millions of dollars more than had been publicly disclosed.
BUSINESS
August 7, 2006 | From the Associated Press
The court battle rarely stops when a jury renders a verdict. More than two months after winning convictions against Enron Corp. founder Kenneth L. Lay and former Chief Executive Jeffrey K. Skilling, the Justice Department's Enron Task Force is smarting from a blow to its trial record dealt by the federal 5th Circuit Court of Appeals. In a recent 2-1 decision, a panel from the court overturned fraud and conspiracy convictions against four former Merrill Lynch & Co.
BUSINESS
June 14, 2006 | From the Associated Press
Lawyers for a former Enron Corp. broadband executive found guilty last month on fraud and conspiracy charges have asked for a new trial after several jurors said they felt pressured to convict. Affidavits by two jurors and two alternate jurors were part of a 90-page motion by attorneys for former broadband unit finance chief Kevin Howard, who was convicted on five counts of fraud, conspiracy and falsifying records.
BUSINESS
May 26, 2006 | Thomas S. Mulligan, Times Staff Writer
Handing the government its biggest victory in its war on corporate corruption, a federal jury Thursday found former Enron Corp. executives Kenneth L. Lay and Jeffrey K. Skilling guilty of conspiracy and fraud in connection with the 2001 collapse of the onetime energy trading giant. Jurors said they rejected the defense that there was no crime at Enron -- that Lay and Skilling were unfairly targeted by a government bent on making them the scapegoats for their company's failure.
OPINION
March 1, 2002
I have been having a problem understanding the Enron hearings. It was just a few months ago that the politicians where standing in line at the Enron money trough willing and able to perform whatever services this corporate giant wanted for a few bucks. These are the same people now investigating Enron. I am having a hard time distinguishing the bad guys from the good guys. The politicians accuse Enron management of making bad financial deals that forced the company into bankruptcy.
BUSINESS
May 11, 2006 | From Bloomberg News
Jurors in the trial of Kenneth L. Lay and Jeffrey K. Skilling will be instructed to consider whether the two former Enron Corp. executives deliberately ignored accounting fraud as the energy trader fell into bankruptcy, the judge in the case ruled Wednesday. U.S. District Judge Sim Lake denied a motion by defense lawyers to prevent the jury from considering whether Skilling or Lay can be found guilty if either deliberately chose not to know about alleged criminal activity at Enron.
BUSINESS
May 4, 2006 | From Times Wire Services
Defense lawyers for Kenneth L. Lay and Jeffrey K. Skilling questioned two accounting experts Wednesday in an effort to show that Enron Corp. never falsified its books. Prosecutors have contended that Enron, under the leadership of company founder Lay and then-Chief Executive Skilling, overvalued its assets and used improper "cookie jar" cash reserves to smooth out earnings.
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