The telecom scandals that rocked the capital markets in the early part of this decade are fast becoming a distant (and somewhat faded memory.) Even though 100s of thousands lost their jobs, and billions of investor capital evaporated into thin air, the perpetrators have mostly gone scott free, with a few exceptions.
Enron Broadband Services CEO Ken Rice is the latest to go behind bars. He was sentenced to 27 months in the prison. The man who loved fast cars, fast bikes is getting a fast sentence for cooperating with the authorities. His sidekick Kevin Hannon was also sentenced earlier this year.
Here is a quick score card of who got how much time in the slammer.
* Ken Rice, CEO of Enron Broadband Services: 27 months.
* Kevin Hannon, COO of Enron Broadband Services: 24 months, and a fine of $125,000.
* Jeffrey Skilling, CEO, Enron: 24 years +
* Ken Lay, Chairman, Enron: Long gone to the big jail in the sky.
Other Notable Broadbandits:
* Bernie Ebbers, CEO, WorldCom: 25 years
* Scott Sullivan, CFO , Worldcom: cooperates with authorities, admits guilt, five years. Out by 2010.
* Joe Nacchio, CEO, Qwest: faces 10 years in prison and fines.
* John Rigas, Founder, Adelphia Communications: 15 years.
* Timothy Rigas, CFO, Adelphia Communications: 20 years
Buy Broadbandits: Inside the $750 billion telecom heist.