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.
Lee Farkas , the ex-chairman of Taylor, Bean & Whitaker Mortgage Corp., was found guilty of 14 counts of conspiracy and bank, wire and securities fraud in what prosecutors said was a $3 billion scheme involving fake mortgage assets.