Summary:

Strike one for the good guys! Large living, simple minded and often absent chief of Enron Broadband, Ken Rice has decided to plead guilty to his role in the Enron fraud, and has also decided to cooperate with the authorities. According to The Wall Street Journal, […]

Strike one for the good guys! Large living, simple minded and often absent chief of Enron Broadband, Ken Rice has decided to plead guilty to his role in the Enron fraud, and has also decided to cooperate with the authorities. According to The Wall Street Journal, as part of his plea agreement, Rice said, “I, together with others, conspired to falsely claim” at a January 2000 investment-analysts’ conference that the broadband unit “had developed revolutionary network control software.” I guess we are going to finally see some others from Enron Broadband sent to the big house up the river. Houston Chronicle adds, “A plea agreement with federal prosecutors requires him to cooperate with the government in ongoing investigations and trials and forfeit $13.7 million in cash and property. Rice faces a maximum 10 years in prison and a $1 million fine, as well as three years of supervision.” Here is a list of Enron’s wealthiest!

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