Wednesday, November 15, 2006

Causey Receives 66-Month Prison Term

Former Enron chief accounting officer Richard Causey received a five and one-half year prison term from U.S. District Judge Sim Lake for his guilty plea to one count of securities fraud. Causey had been scheduled to be tried along with former CEOs Ken Lay and Jeffrey Skilling, but then entered into the plea agreement just a couple weeks before the scheduled start of trial.  Neither side called Causey as a witness at the trial that resulted in the convictions of Lay and Skilling, and it remains unclear whether he would have been particularly helpful to either side.  Causey's sentence puts him just a bit below the prison term imposed on his direct boss, former CFO Andrew Fastow.  Under Bureau of Prisons rules, Causey must serve 85% of his sentence, or a bit less than five years. An AP story (here) discusses the sentencing. (ph)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/11/causey_receives.html

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