Another Enron Sentencing
Posted on | June 5, 2007
Enron’s former COO Kevin Hannon just got two years for his part in defrauding shareholders.
Hannon, 46, also received a $125,000 fine from U.S. District Judge Vanessa Gilmore in Houston, a clerk for the judge said.
Hannon, who was COO of Enron Broadband Services from January 2000 to June 2001, pleaded guilty in August 2004 to one count of conspiracy to commit wire and securities fraud and agreed to cooperate with prosecutors at the bankrupt company.
The former Internet executive, who testified for the prosecution at the criminal trial of his former bosses Kenneth Lay and Jeffrey Skilling in March 2006, had faced up to five years in prison.
At the time of his plea, Hannon also agreed to forfeit $2.2 million and pay $1 million to settle U.S. Securities and Exchange Commission civil charges.
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