Kenneth Rice, 45, has agreed to pay $13.7m and faces a jail term of up to 10 years.
At his hearing, Rice admitted to misrepresenting the development state of Enron Broadband’s software and to knowingly making false statements about it, the Financial Times reported.
Rice was co-chief executive of Enron Broadband Services from July 1999 to July 2001.
Enron filed for bankruptcy protection just five months after Rice quite the energy firm.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements