Former Enron Corp. Chief Executive Officer Jeffrey Skilling, who spearheaded the fraud that destroyed the world’s largest energy trader, will leave prison in 2017 after his sentence was reduced to 14 years from 24.
Jeffrey Skilling, the former Enron Corp. chief executive officer, is in talks with the U.S. Justice Department to possibly reduce his 24-year sentence for helping mastermind the fraud that brought down the world’s biggest energy-trading company.
Lee Farkas , the former chairman of Taylor, Bean & Whitaker Mortgage Corp., went on trial today as the accused mastermind of a $1.9 billion fraud conspiracy. Looming in the background was the company’s relationship with the bailed-out federal mortgage financier, Freddie Mac.
Albert “Jack” Stanley, the former KBR Inc. chief executive officer, was sentenced to 2 1/2 years in prison for bribing Nigerian officials to win $6 billion in natural gas contracts for the company and its partners.
Robert Moffat, an ex-International Business Machines Corp. senior vice president ordered to spend six months in prison for his role in an insider-trading scheme, will start serving his sentence early to get it out of the way.
U.S. prosecutors finished their case against Lee Farkas , the former chairman of Taylor, Bean & Whitaker Mortgage Corp. accused of masterminding a $1.9 billion fraud scheme that targeted the federal bank bailout program.
Merrill Lynch & Co. former banker James A. Brown won’t be retried on fraud charges related to his alleged role in an Enron Corp. scheme involving the sham sale of Nigerian electricity-generating barges.