Fried Rice in Enron Broadband Case


Former Enron Broadband Services CEO Kenneth Rice pleaded guilty to securities fraud Friday, AP reported.

Rice also agreed to help federal prosecutors with other Enron-related cases, according to AP.

He was charged in May 2003 with selling 1.2 million shares of Enron Corp. stock for more than $76 million while he knew the bankrupt energy giant’s broadband unit was failing.

According to AP, he faces a maximum of 10 years in prison and a fine of up to $1 million for the single fraud count. Sentencing was set for Jan. 31. The plea deal also requires him to forfeit $13.7 million in cash and property.