Enron Ex-Accounting Officer Sentenced to Prison

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The New York Sun

Richard Causey, the last of the top Enron Corp. executives to learn his punishment, was sentenced Wednesday to five-and-a-half years in prison for his role in one of the biggest corporate scandals in American history.

Mr. Causey, the company’s former chief accounting officer, pleaded guilty in December to securities fraud two weeks before he was to be tried along with the Enron founder, Kenneth Lay, and the former chief executive, Jeffrey Skilling, on conspiracy, fraud, and other charges related to the company’s collapse.

Mr. Causey, 46, had agreed to serve seven years in prison. Prosecutors indicated they could have recommended it be reduced to five if they were pleased with his cooperation.

The maximum penalty for securities fraud is 10 years in prison and a fine of $1 million or twice the amount illegally gained. Mr. Causey also agreed to fork over $1.25 million to the government and forfeited a claim to about $250,000 in deferred compensation as part of his plea deal. Unlike others at Enron, Mr. Causey didn’t skim millions of dollars for himself from shady deals.


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