Houston -- A former Enron Corp. executive was sentenced to two years in prison for conspiracy to commit securities and wire fraud, a U.S. district court judge ruled.
Get original file (7KB) [1]
Kevin Hannon, the former chief operating officer of Enron's money-losing broadband unit, was also ordered to pay a $125,000 fine and to serve two years of probation after he leaves prison, U.S. District Court Judge Vanessa Gilmore in Houston ruled Monday.
Hannon, who turns 47 next week, pleaded guilty in August 2004 to the conspiracy charges of helping convince investors Enron's fledgling broadband unit was successful when it wasn't, The Houston Chronicle reported.
His sentencing was the next-to-last for one-time Enron executives who pleaded guilty to crimes, the newspaper said. Kenneth Rice, the broadband unit's former chief executive officer, is to be sentenced for securities fraud June 18.
Copyright 2007 by United Press International.