Former Enron executive reports to prison


Richard Causey, the former [tag]chief accounting officer[/tag] at [tag]Enron[/tag] reported to [tag]prison[/tag] yesterday to begin serving his 5 1/2 year sentence. The 47-year-old ex-executive reported to Bastsrop Federal Correctional Institution, a low- to medium-security prison outside of Austin, Texas.

Causey pleaded guilty to a charge of [tag]securities fraud[/tag] in 2005 just prior to going on trial with Kenneth Lay and Jeffrey Skilling. He would have been tried on [tag]conspiracy[/tag], [tag]fraud[/tag], and other charges related to the Enron scandal. Causey admits to making false public findings statements.

Upon completing his prison sentence, Causey will server two years of probation and pay a $25,000 fine which will be distributed to Enron victims. He has further agreed to pay $1.25 to a victims’ fund and forgo $250,000 in deferred compensation from Enron.