11 February 2007

CFO at Enron "Unconvicted"

The CFO of Enron has been "unconvicted".

Another judge throws out another conviction in the Enron case. Kevin A. Howard is the Chief Financial Officer at Enron convicted last year of three counts of wire fraud, two counts of falsification of books and records and conspiracy to falsify books and records.

From CNN:

"The judges on the appeals court said the convictions of the Merrill bankers could not be upheld because of the flawed use of the so-called honest services theory, which revolves around the breach of honest services owed under a contract."

"Judge Vanessa Gilmore wrote in a opinion dated Wednesday that the appeals court decision had changed "the law on what constitutes honest services wire fraud."

Read the article here.

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