Ex-Enron Executive Sentenced
A federal judge refused a former Enron executive’s request for a sentence of probation yesterday, imposing a sentence of two years in prison and a $125,000 fine.
Lawyers for Kevin Hannon, former chief operating officer of Enron’s broadband division, had argued that six ex-Enron executives who pleaded guilty had received probation and their client should get a similar sentence.
But U.S. District Judge Vanessa Gilmore countered that Hannon’s wrongdoing is more like that of seven other former executives doing prison time, the Houston Chronicle reports.
Hannon pleaded guilty to conspiracy to commit securities and wire fraud for publicly asserting his unit was making money even though he knew it was in trouble. His testimony helped obtain the conviction of former chief executive Jeffrey Skilling, the Associated Press reports.
The Houston paper reports that Hannon is the second-to-last Enron executive to be sentenced after entering a guilty plea.