{"id":78,"date":"2006-02-16T15:59:50","date_gmt":"2006-02-16T21:59:50","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=78"},"modified":"2006-03-27T12:13:59","modified_gmt":"2006-03-27T18:13:59","slug":"78","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/78\/","title":{"rendered":"Testimony in the case against Enron executives"},"content":{"rendered":"<p>The former CEO of Enron Broadband Services, Kenneth Rice, has testified that Jeffrey Skilling wanted him to mislead Enron&#8217;s board of directors. At a meeting between Rice and Skilling (former head of Enron) in May 2001, Skilling suggested that Rice should compile a presentation that was in line with analysts&#8217; expectations. Analysts expected Enron Broadband Services to perform well long-term, but Rice says that the business unit was actually spending $100 million per quarter and producing little business.<\/p>\n<p>Rice is one of 16 executives affiliated with Enron who have pleaded guilty to crimes related to Enron&#8217;s collapse. Rice pleaded guilty in July 2004 to securities fraud, and parted with $13.7 million in cash and property. That property included a Ferrari and a Colorado vacation home. He also agreed to help prosecutors with cases related to Enron. His net worth has dropped from $25 million to $10 million since pleading guilty, and he is awaiting sentencing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former CEO of Enron Broadband Services, Kenneth Rice, has testified that Jeffrey Skilling wanted him to mislead Enron&#8217;s board of directors. At a meeting between Rice and Skilling (former head of Enron) in May 2001, Skilling suggested that Rice [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-78","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/s6Z0e-78","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/78","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=78"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/78\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=78"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=78"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=78"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}