Enron Broadband Exec to Be Sentenced - NBC 5 Dallas-Fort Worth

Enron Broadband Exec to Be Sentenced



    Enron Broadband Exec to Be Sentenced

    The criminal case related to the failed Enron Corp. broadband unit is set to finally wrap up after eight years.

    Former Enron broadband executive Rex Shelby is to be sentenced Monday during a federal court hearing in Houston. He faces up to 10 years in prison after pleading guilty last year to insider trading.

    Shelby was one of seven former executives first indicted in 2003, accused of lying to shareholders about the broadband division's value in order to get rich by selling inflated shares.

    The six others have previously been acquitted, had charges dropped or been sentenced.

    Once the nation's seventh-largest company, Enron went bankrupt in 2001 after years of accounting tricks could no longer hide billions in debt or make failing ventures appear profitable.