Kevin Howard, the former vice president of finance for Enron Corp.’s broadband unit, has pleaded guilty in U.S. District Court in Houston to one count of falsifying books and records. Under the plea agreement, Howard would serve four to 12 months of probation or home confinement, or a combination of both. U.S. District Judge Vanessa Gilmore accepted the plea and will formally sentence Howard later this year. The former Enron executive was scheduled to go to trial for a third time on fraud and conspiracy charges, similar to the charges he faced when he first was indicted in 2003 (see Daily GPI, March 13, 2003). Howard’s first trial ended in a mistrial (see Daily GPI, June 1, 2006). In the second trial Howard was found guilty on five counts, but the convictions later were dismissed by Gilmore (see Daily GPI, Feb. 2, 2007).
Broadband
Articles from Broadband
Former Enron Internet Boss Given Two Years in Prison
The former COO of Enron Corp.’s Internet division, Enron Broadband Services (EBS), was sentenced in Houston Monday to two years in federal prison.
Another Ex-Enron Exec Convicted of Fraud
Former Enron Broadband Services (EBS) executive Kevin Howard was convicted Wednesday on one count of conspiracy, three counts of wire fraud and one count of falsifying books and records for his role in a scheme to mislead investors about the company’s finances. Another former EBS executive, Michael Krautz, was acquitted on the same five charges.
Enron Defense Questions Veracity of Witness
Challenged by the defense team on Monday, a former Enron Broadband Services (EBS) executive acknowledged that he, too, lied to employees, investors and investigators with the Securities and Exchange Commission (SEC) before making a deal to cooperate in the trial of Enron founder Kenneth Lay and ex-CEO Jeffrey Skilling.
Industry Brief
Dynegy Inc. has closed the sale of its U.S. communications business, including a high-capacity broadband network spanning more than 16,000 miles with access points in 44 U.S. cities, to an affiliate of 360networks Corp. Financial terms of the deal, first announced in late March, were not disclosed. CEO Bruce A. Williamson said the sale finalizes Dynegy’s exit from communications. “The Dynegy you see now — and into the future — is one built around its core energy businesses, which include power generation, natural gas liquids and regulated energy delivery.”
