Former COO of Enron Unit Pleads Guilty
- Share via
Kevin Hannon, former chief operating officer of Enron Corp.’s broadband services division, pleaded guilty to a conspiracy charge in connection with the collapse of the energy trader.
Hannon entered a guilty plea to one count of conspiracy to commit securities and wire fraud before U.S. District Judge Vanessa Gilmore in Houston. He agreed to pay a $250,000 fine and relinquish his claim to $8 million in deferred compensation from the company.
He also will surrender $2.2 million in assets and pay a $1-million penalty to the Securities and Exchange Commission.
The plea comes a month after former Enron broadband Chief Executive Kenneth Rice pleaded guilty to one count of securities fraud before Gilmore. Hannon reported to Rice.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
