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Notable Enron insider trading sentencing outcome and reasoning

By Douglas A. Berman

This Bloomberg report, headlined "Ex-Enron Broadband Executive Sentenced for Insider Trading," caught my attention for a number of reasons.  Here are the details: Former Enron Broadband Services executive Rex Shelby was sentenced today on an insider trading charge linked to the investment fraud that destroyed the world?s largest energy trader 10 years ago.  Shelby, 59, pleaded guilty to one count of insider trading and was sentenced to three months in a federal halfway house and three months of house arrest. Shelby will also forfeit about $2.6 million in profits from the illicit trade. Shelby?s lawyer Ed Tomko told a judge that Shelby has also agreed to forfeit another $1 million to resolve related Securities and Exchange Commission charges...continue to full post

Full post as published by Sentencing Law and Policy on March 28, 2011 (boomark / email).