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Convicted Merrill Lynch executive to report to prison for Enron scheme

[JURIST] The former head of investment banking at Merrill Lynch [corporate website] who was convicted last year in connection with Enron's bogus sale of power barges, will report to a low security federal prison in Hopewell, Virginia [prison website] on July 14 to serve his two and a half year sentence [JURIST report], a judge ruled Friday. Daniel Bayly will be the first of four convicted former Merrill executives to serve time. US District Judge Ewing Werlein denied a request that he remain free on bond pending the appeal of his conviction for conspiracy and fraud. One of Bayly's co-defendants, James A. Brown, will report to prison on August 12. Two other defendants were sentenced in May but have not yet received surrender orders. AP has more.

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