Where are the faces of the Enron trial?

THE PEOPLE OF THE ENRON CASE – DEFENDANTS

Prosecutors brought various criminal charges against about three dozen executives and employees of Enron and firms that did business with it, and the accounting firm that audited its books.

Ken Lay, CEO – Tried with former Enron President Jeff Skilling; conviction thrown out because Lay died before sentencing.

Jeff Skilling, president – Serving 24-year sentence; Supreme Court said prosecutors used a legal theory improperly and returned case to lower court, which upheld the convictions; sentence may be reduced due to earlier ruling that a Houston judge erred in applying sentencing guidelines.

Andrew Fastow, chief financial officer – Pleaded guilty to two conspiracy counts; testified against Lay and Skilling; finishing 6-year sentence that ends Dec. 17 at his Houston home; working as document review clerk for Houston law firm.

Lea Fastow, assistant treasurer, Andrew Fastow‘s wife – Pleaded guilty to lying on tax return; served 1-year sentence; runs an art consulting firm under her maiden name, Lea Weingarten.

Richard Causey, chief accounting officer – Pleaded guilty to securities fraud; completed final weeks of 5-year, 6-month sentence this year at his Houston home; listed on LinkedIn as “independent accounting professional.”

Michael Kopper, finance managing director – First Enron executive to enter plea bargain; served less than two-thirds of 3-year, 1-month sentence, released January 2009; now chief strategy officer for Legacy Community Health Services.

Ben Glisan, treasurer – Pleaded guilty to conspiracy; served two-thirds of 5-year sentence; now heads his own financial advisory firm, Pinyon Advisors.

Mark E. Koenig, head of investor relations – Pleaded guilty to securities fraud; served 18-month sentence; retired.

Paula Rieker, managing director of investor relations – Pleaded guilty to insider trading; served 2 years probation.

Lawrence Lawyer, vice president, global markets – Pleaded guilty to failing to report income; served 2 years probation; heads Houston-based Triton Investment Group, an energy investment and professional services company.

David Delainey, former CEO, retail energy division – Pleaded guilty to insider trading; served 9-month prison term.

Timothy DeSpain, assistant treasurer – Pleaded guilty to conspiracy; served 4 years probation; president of GTL Logistics, a firm planning to build a hub in Port Arthur to transport oil from shale projects between refineries and chemical plants.

Arthur Andersen accounting firm, Enron independent auditor – Supreme Court reversed firm’s 2002 conviction on obstruction of justice charge because of a vague jury instruction; case wasn’t retried, but firm went out of business.

David Duncan, Arthur Andersen auditor – Withdrew a guilty plea after the Supreme Court reversed firm’s conviction; settled Securities and Exchange Commission complaint of securities laws violations; now vice president and chief financial officer of Houston-based U.S. Pipeline.

Timothy Belden, head of trading, Enron Energy Services – Pleaded guilty to manipulating California power markets; served 2 years probation; co-founded Energy GPS, an energy consulting firm.

Jeffrey Richter, trader, Enron Energy Services – Pleaded guilty to manipulating California power markets; served 2 years probation; co-founded Energy GPS.

John M. Forney, energy trader – Pleaded guilty to manipulating California power markets; served 2 years probation.

Joe Hirko, Co-CEO, Enron Broadband Services – Pleaded guilty to charge arising from overstating performance of Broadband division; served 16-month sentence; listed on LinkedIn as running a party supply business.

Ken Rice, Co-CEO, Enron Broadband – Pleaded guilty to securities fraud in Broadband case; served 27-month sentence; now works in investments.

Rex T. Shelby, vice president of engineering operations, Enron Broadband – The last of the Enron employees to be sentenced; pleaded guilty to one count of insider trading; sentenced to 2 years probation; working in high-tech industry with pre-Enron colleagues.

Scott Yeager, strategic business executive, Enron Broadband – Appeals court ordered Yeager acquitted on all charges after his case went to U.S. Supreme Court; says he’s semiretired, running a small ranch and working with small technology companies on sales and product development.

Kevin Hannon, chief operating officer, Enron Broadband – Pleaded guilty to conspiracy in Broadband case; served 2-year sentence; founder and president of Clarity Risk Management Services.

Kevin Howard, finance chief, Enron Broadband – Pleaded guilty to one count of falsifying records in Broadband case; served 1 year probation; now vice president and general manager, Kinder Morgan Natural Gas Pipelines.

Michael Krautz, in-house accountant, Enron Broadband – Tried in Broadband case; acquitted.

William Fuhs, Merrill Lynch banker – Tried in what prosecutors alleged was a scheme to inflate earnings through transactions involving power generation barges in Nigeria; conviction thrown out on appeal.

James A. Brown, Merrill Lynch banker – Convicted in Nigerian barge case; some charges thrown out on appeal; served 47 months on remaining charges.

Robert Furst, Merrill Lynch banker – Tried in Nigerian barge case; conviction thrown out on appeal.

Daniel Bayly, former head of investment banking for Enron – Tried in Nigerian barge case; conviction thrown out on appeal.

Sheila Kahanek, Enron in-house accountant – Tried in Nigerian barge case; acquitted; now managing director of Houston-based Kahanek Financial Advisory Services.

Dan Boyle, vice president, global finance group – Convicted in Nigerian barge case; did not appeal; served 3-year, 10-month sentence.

Gary Mulgrew, David Bermingham, Giles Darby – British bankers pleaded guilty to misleading their former employer in an Andrew Fastow finance scheme; sentenced to 3 years, 1 month, most served in British prison; now out of prison and self-employed.

23 Comments

  1. itsmetres

    Good, now when are we going to go after those that caused the meltdown of the United States, Barney Frank and Chris Dodd, along with numerous bankers?

    #1
  2. Roy

    White collar crime pays ….. as long as you know where the line is drawn and don’t get too crazy with greed.
    It doesn’t hurt to be amigos with the right power politicians either.
    Just have enough dirt on ‘em to force ‘em to maintain loyalty to you.
    That’s the American way!

    #2
  3. Warren Buffett

    hahahah! Andrew Fastow working as a lowly document review clerk for Houston law firm. The wheels of justice turn slowly but they do turn.

    #3
  4. Eddie

    None of these SOBs should have ever gotten a job again after the royal screwing they gave their investors. What a screwed up society this once thriving country has become, murderers, thieves, drug dealers, rapist and general trash.

    #4
  5. john doe

    Good, now when are we going to go after those that caused the meltdown of the United States, George Bush and Newt Gingrich, along with numerous bankers?

    #5
  6. john doe

    Actually, Ken Lay was to be VP for Bush, when the more Evil, Dick Chenney stepped in and out Minion-ed him. True story.

    #6
  7. The Chief

    We need Chinese justice…..most of these people would have been executed by now. Good ole USA justice is the biggest joke in the world.

    #7
  8. doug mcminn

    Ken Lay is very likely not dead—Bush owed him and used his CIA connections got him out of the country. He is probably living well in some tropical paradise. This is one conspiracy theory that I actually believe.

    Andy Fastow ruins so many lives and only gets a 7 year sentence, some of which from home????

    I am not a former Enron employee or stock owner, but this is a sickening and pathetic lack of justice for someone who systematically stold so much from so many.

    Some homeless addict caught with a crack pipe will get more time.

    #8
  9. Reddog

    I took a picture of Fastow waiting in the checkout line at the Galleria Costco over a month ago.

    #9
  10. L. Ecrivain

    Perhaps a more interesting story would have been “Where are the now: the countless people who were royally shafted by these pigs and were left with no safety net”. Their sentences were small prices to pay in relation to the damage done, and I’d be willing to bet that most of the bigger players have stash somewhere from all they stole. Despicable, gutless and karmically doomed.

    #10
  11. BOB

    Ken Lay is not dead. That sob

    #11
  12. sigsauer

    How sad–so many people lost so much and the perpetrators of this offense served so little time in jail or served their sentences at home. I honestly see no justice in these cases.

    #12
  13. Kari Hari

    They should all do the honorable thing and commit Hari Kari.

    #13
  14. Lizard

    Most of these people seem to be back doing what they did before the Enron meltdown, only in different settings. At least if they had been CPA’s or attorneys their licenses to practice would have been revoked and they couldn’t have gone back to doing the same ol’, same ol’. There needs to be more accountability in business. As part of their plea bargains, these people should have been barred from engaging in business pursuits similar to what they were involved in at Enron for a period of, say, ten years. Who’s to say they won’t go back to the same kind of corporate crookedness they engaged in previously?

    #14
  15. iko iko

    AIG executives and middle management should have been treated much in the same manner …

    #15
  16. Rabert

    John Doe, it wasn’t Bush that caused the meltdown – you have to go back to the previous Clinton administration. Slick Willy wanted more minority home ownership so his administration heavily pressured banks to approve more minority loans and rubber stamp loans that never could have been paid by those borrowers. Willy required banks to make a certain minimum number of minority loans … NO MATTER WHAT. When you couple that with the deregulation of the banking/finance/insurance industry, which allowed bankers to sell mortgages in pieces, the meltdown was inevitable. Bush spoke against both of those things repeatedly – and Congress ignored him.

    #16
  17. B Jones

    Enron was the tiny empire of efite arrogance. But it was NOTHING in comparison to the $$TRILLIONS being stolen through derivatives fraud and insider trading (Goldman Sachs, MF Global, etc.).

    #17
  18. Former Enron Guy

    I saw Fastow in the downtown tunnels about 2 months ago.

    #18
  19. Sandra O'Connor

    Hardly a hiccup in their lives. Now imagine all the people who ride a bike, take a bus to work, or walk…day or night in the heat, rain, or cold, just to make minimum wage to shelter and feed their family. How can anyone in their logical, right mind, even consider letting this band of thieves get by with what they did. There is no way on this earth that it was not a collaborative effort. And we wonder why America is in such a mess. Wake up people…get some morals and stand by them, because in the long run that’s all we are really about.

    I wonder if Ken Lay is really lying in a grave some where and not living a glorious life outside the USA. How strange and efficient his death was.
    You do have to realized that he was the biggest brain of all…you know he had an exit strategy.

    #19
  20. Mayflowergirl

    Ken Lay didn’t die. His body “was cremated” so it couldn’t be exhummed later, which would prove the body isn’t really his….

    #20
  21. Otadmi

    Glad to see I am not alone in thinking that Ken Lay is not dead. The technology exists, and money talks when you need to disappear.

    As for starting new businesses, notice all of the RISK management service cos. Who better to seek out the red flags than a crook? Remember Frank Abagnale…

    #21
  22. LCD

    Everyone still worried about what a private company was capable of pulling off…..but no one seems to care that the investigating group…Federal Governement/FBI shut them down because they were competition….TRILLIONS of our dollars TAKEN against the will of the people and the US Constitution thru threat of tax liens and siezures and jail…besides who has enough money to fight the federal government……obviously it wasn’t Enron.

    #22
  23. jaycee

    Yes keep deleting this info but it will never go away and this post shows a previous post a complete lie but the other post stays?. Clinton is no saint but to declare that Clinton and poor people caused all the housing bust is completely wrong.

    June 17, 2002
    CNN
    “President Bush touted his goal Monday of boosting minority home ownership by 5.5 million before the end of the decade through grants to low-income families and credits to developers.

    He urged Congress to expand the American Dream Down-Payment Fund, which would provide $200 million in grants over five years to low-income families who are first-time home buyers.

    The money would be used for down payments, one of the major obstacles to home ownership, Bush said.


    #23