From Truthout:
The former chief operating officer of Enron Corp.'s broadband Internet division, Kevin Hannon, was sentenced to 2 years in federal prison for his role in the fraud that led to the giant energy company's collapse, a court official said on Monday.
Hannon, 46, also received a $125,000 fine from U.S. District Judge Vanessa Gilmore in Houston, a clerk for the judge said.
Hannon, who was COO of Enron Broadband Services from January 2000 to June 2001, pleaded guilty in August 2004 to one count of conspiracy to commit wire and securities fraud and agreed to cooperate with prosecutors at the bankrupt company.
The former Internet executive, who testified for the prosecution at the criminal trial of his former bosses Kenneth Lay and Jeffrey Skilling in March 2006, had faced up to five years in prison.
At the time of his plea, Hannon also agreed to forfeit $2.2 million and pay $1 million to settle U.S. Securities and Exchange Commission civil charges.
Hannon initially was indicted on charges of conspiracy, money laundering and insider trading,
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