Ex-Enron executives get reduced prison terms after co-operating with prosecutors

Ex-Enron executives get reduced prison terms after co-operating with prosecutors

[JURIST] Texas US District Judge Ewing Werlein Jr. sentenced former Enron [JURIST news archive] executives Michael Kopper [BBC profile] and Mark Koenig to 37- and 18-month prison terms [DOJ press release] respectively Friday for their role in the corporate scandal. The sentences for both men were reduced at the request of prosecuting attorneys in return for the defendants' testimony against other former Enron executives [JURIST report]. Kopper, a former Enron managing director and subordinate to former Enron Chief Financial Officer Andrew Fastow [JURIST news archive], pleaded guilty to one count of conspiracy and one count of money laundering in August 2002 for which he faced up to 15 years in prison. Koenig, Enron's former investor relations chief, pleaded guilty [DOJ press release] to aiding and abetting securities fraud in August 2004. He faced up to 10 years in prison.

As part of their plea agreements, both Kopper and Koenig agreed to return millions of dollars they had pilfered from the company. That money, along with the court-imposed $50,000.00 fine for each man, will be deposited in a fund for the victims of Enron's collapse. AP has more.