Enron's Causey gets 5-1/2 year prison sentence 1850
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Enron’s Causey gets 5-1/2 year prison sentence
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Enron’s Causey gets 5-1/2 year prison sentence
Ex- accounting chief sentenced to 66 months in prison as part as plea for greenlighting bogus bookkeeping.
November 15 2006: 3:53 PM EST
HOUSTON (Reuters) – Former Enron chief accounting officer Richard Causey was sentenced on Wednesday to five and one-half years in prison for approving the bogus bookkeeping that led to the company’s 2001 collapse.
Causey, who faced more than 20 years behind bars if convicted on three dozen original charges, had agreed to a maximum sentence of seven years in jail under a plea arrangement. He will also forfeit USD1.25 million under the deal.
Causey, 46, the last of the top-tier Enron executives to be sentenced, pleaded guilty to securities fraud in December 2005, weeks before he was scheduled to go on trial with former Enron chief executives Ken Lay and Jeff Skilling, both of whom were found guilty in May.
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