Advertisement

Archive for Wednesday, December 28, 2005

Enron executive strikes plea bargain

December 28, 2005

Advertisement

— Enron's former chief accounting officer, Richard Causey, has struck a plea bargain with federal prosecutors and will avoid going to trial with the fallen energy company's two top executives, according to a person familiar with the negotiations.

Causey was expected to plead guilty today to one or more of the 34 criminal charges pending against him, this person told The Associated Press on Tuesday on condition of anonymity.

Causey, 45, agreed to testify against his former bosses, Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling, in exchange for a much lesser prison sentence than he would receive if convicted on all counts.

Causey is charged with fraud, conspiracy, insider trading, lying to auditors and money laundering for allegedly knowing about or participating in a series of schemes to fool investors into believing Enron was financially healthy.

Comments

Use the comment form below to begin a discussion about this content.

Commenting has been disabled for this item.