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Today in legal history...

Wednesday, March 28, 2012

Sentencing of Enron executive ended 8-year investigation
Katherine Bacher at 12:00 AM ET

On March 28, 2011, the US District Court for the Southern District of Texax sentenced former Enron Broadband Services executive, Rex Shelby, to two years of probation on charges of insider trading. His sentencing marked the end of an eight-year criminal investigation of Enron executives regarding allegations of investment fraud by the former corporate luminary. Shelby was one of seven executives originally indicted in 2003 on dozens of criminal counts for allegedly overstating the value of the broadband division's software and network to inflate the value of Enron's stock. Of the executives prosecuted during the investigation, three received prison sentences, two were given probation, and one was acquitted after the charges were dismissed. The original Enron defendants were acquitted of charges in July 2005, but prosecutors later re-indicted the defendants on additional charges in November 2005.

Learn more about Enron, insider trading, and fraud from the JURIST news archive.

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