Belfast Telegraph

Wednesday 23 July 2014

Last top Enron scandal executive jailed

Richard Causey, the last of the top Enron Corporation executives to learn his punishment, has been jailed for five-and-a-half years for his role in one of the biggest corporate scandals in US history.

Causey, the energy trading company's former chief accounting officer, pleaded guilty in December to securities fraud two weeks before he was to be tried along with Enron founder Kenneth Lay and former chief executive Jeffrey Skilling on conspiracy, fraud and other charges.

``There were improper things done at Enron. Some of those things were done by me. For that, I'm sorry,'' Causey said before US District Judge Sim Lake sentenced him in Houston, Texas.

``As God is my witness, I never did anything intentionally to enrich myself or hurt the company or its employees.''

After Causey, 46, serves his five years six months in prison, he will have to serve two years' probation and pay a $25,000 dollars fine that will be distributed to Enron's victims.

Causey had already agreed to pay $1.25 million dollars to the victims' funds and forfeited a claim to about $250,000 dollars in deferred compensation.

``I'm confident you will come out and be a credit to your family,'' Lake told Causey.

The maximum penalty for securities fraud is 10 years in prison and a fine of $1 million dollars or twice the amount illegally gained.

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