Wednesday, October 15, 2008

Enron Update

Former Co-CEO for Enron Broadband Services, Joseph Hirko, pleaded guilty to wire fraud according to this news report. His plea agreement terms mean he could be up for a prison sentence of up to 16 months, and fine of $250,000. Hirko's sentencing is set for March 3, 2009. Also included in the terms is an agreement to help with further investigation into former coworkers, and a forfeiture of $8.7 million in restitution to the SEC Enron Fair Fund for victims of the Enron scandal.

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