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Defendant in Sept. 11 Perjury Case Acquitted
A jury in New York acquitted Osama Awadallah of two counts of perjury the government charged took place during testimony before a grand jury in October 2001 investigating the September 11 terrorist attacks. Awadallah was a student in San Diego in 2000 when he became acquainted with one of the hijackers who was on the…
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Two More Enron Executives Sentenced
The sentencing of the major Enron players who reached plea agreements and testified for the government against former CEOs Ken Lay and Jeffrey Skilling concluded this week. Michael Kopper, an aide to former CFO Andrew Fastow who helped set up the special purpose entities that caused much of the accounting troubles at the company, received…
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Feinstein and Sessions Introduce DOJ-Backed Bill to Overturn Abatement Doctrine
California Senator Diane Feinstein and Alabama Senator Jeff Sessions introduced a bill in the Senate to enact the Department of Justice’s proposal to overturn the abatement doctrine that led to the dismissal of the indictment and conviction of former Enron CEO Ken Lay after his death in July 2006. The Department had asked U.S. District…
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It May Be Getting Worse for Kobi Alexander at Comverse Technology
Comverse Technology, Inc. became embroiled in the options-timing controversy when former CEO Kobi Alexander, former CFO David Kreinberg, and former general counsel William Sorin, were charged with securities fraud in July 2006. Kreinberg and Sorin have agreed to plea bargains with the government, and reports are that Kreinberg will finger Alexander for offering to pay…
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Fourth Defendant Pleads Guilty in New Hapmshire Phone Jamming Investigation
Even with the 2006 midterm elections past, there is still fall-out in New Hampshire from the elections four years ago from an effort to jam the telephones of organizations involved in a get-out-the-vote effort on behalf of Democratic candidates. A fourth defendant in the case, Shaun Hansen, entered a guilty plea to two counts of…
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Skilling Heads to Minnesota
The Houston Chronicle reports (here) that U.S. District Judge Sim Lake has ordered former Enron CEO Jeffrey Skilling to report to the federal correctional institution in Waseca, Minnesota (link here), about 75 miles south of the Twin Cities. This is a low-security facility. Judge Lake had recommended that Skilling be placed in the FCI in…
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SEC Goes Formal with Dell Accounting Investigation
Dell Inc. announced that it will postpone disclosure of its current financial results and that the SEC has upgraded its inquiry of the company’s accounting to a formal investigation. Dell disclosed in August 2006 (here) that the "SEC has requested information relating to revenue recognition and other accounting and financial reporting matters for certain past…
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Abramoff’s Farewell: “We Are Not Even Half Way Through”
Former superlobbyist Jack Abramoff headed off to the federal correctional institution at Cumberland (link here), in Western Maryland. The facility has a medium-security prison and a satellite camp, where he will serve his six-year prison term on bank fraud and corruption convictions. Before entering the FCI, Abramoff sent a final e-mail (here) to friends that…
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KPMG Trial On Hold
One can add delay to the list of inevitables, along with death and taxes, at least when it involves a multi-defendant white collar crime prosecution. U.S. District Judge Lewis Kaplan postponed indefinitely the trial of sixteen former KPMG partners and employees, along with two other non-KPMG defendants, on conspiracy and tax fraud charges because of…
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Causey Receives 66-Month Prison Term
Former Enron chief accounting officer Richard Causey received a five and one-half year prison term from U.S. District Judge Sim Lake for his guilty plea to one count of securities fraud. Causey had been scheduled to be tried along with former CEOs Ken Lay and Jeffrey Skilling, but then entered into the plea agreement just…
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