Enron Broadband CEO sentenced to 27 months in plea deal
Court Alerts
[##_1L|1122736837.jpg|width="130" height="90" alt=""|_##]Former Enron broadband division chief Kennith Rice was sentenced to 27 months in prison Monday and ordered to forfeit almost $15 million as part of a plea deal with prosecutors for his testimony against former Enron CEO Jeffrey Skilling and company founder Kenneth Lay . As CEO of Enron Broadband Services (EBS), Rice made numerous false statements about technology developments designed to mislead investors and artificially inflate the company's stock price. Without the plea deal, Rice faced up to 10 years in prison for his actions.
Earlier this month, former EBS Chief Operating Officer Kevin Hannon was sentenced to two years in prison and fined $125,000 for defrauding investors. Hannon also was sentenced subject to a plea deal, but was convicted of lesser crimes and was facing a maximum of 5 years in prison.
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New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.