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Enron Broadband Services Trial
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Another postponement in the second scheduled Enron
criminal trial has been ordered and now the case against members of the company's
Internet division is set to begin April instead of March.
U.S. District Judge Vanessa Gilmore this week ordered the trial be put out off
again because one of the attorneys had a prior federal trial commitment that
could extend past the previous start date of March 1.
Lawyers estimate this trial will take up to three and a half months and the
judge said she considered their expectations and her schedule when settling
on April 2005.
In September, Gilmore pushed the trial date back from its original October 2004
start date. That was because another defence lawyer was lead attorney in a New
Jersey case that has since concluded, but that could have stretched through
December.
There were originally seven former Enron executives accused in the case involving
the company's Internet division called Enron Broadband Services. Two have entered
into plea bargains and five will be tried.
The five to be tried in April are: Joe Hirko, Enron Broadband Services' former
CEO; Scott Yeager, former senior vice president of business development; Rex
Shelby, former senior vice president of engineering and operations; Kevin Howard,
former vice president of finance, and Michael Krautz, former senior accounting
director.
The five have pleaded not guilty to conspiracy and fraud charges. The men are
accused of lying to investors and the public about the value and capabilities
of the business, including its deal with Blockbuster Video. Some are also accused
of making millions on stock sales when the share price subsequently rose.
Former Enron Broadband CEO Ken Rice pled guilty to one charge in July, while
former Chief Operating Officer Kevin Hannon pled guilty to one charge in September.
Both are cooperating with the government and have not yet been sentenced.
The first Enron criminal trial, centred on a Nigerian barge deal with bankers
at Merrill Lynch, ended recently after it too had been repeatedly postponed.
In the barge case, one Enron executive and four bankers were found guilty of
conspiracy and fraud charges by the jury and one former Enron accountant was
acquitted.
In part, because an Enron defendant acquitted, lawyers in the upcoming trial
who complained the local jury pool was tainted do not expect the judge will
grant their request to move this next trial to another city.
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