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Ex-Enron Executive Causey Reports To Jail
Breaking Legal News |
2007/01/03 23:46
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| Richard Causey, former Enron chief accounting officer, has reported to the Bastrop Federal Correction Institution, a low-security facility in Texas, to begin serving his prison sentence for his role in the Enron accounting scandal. Causey was sentenced to 66 months last November after accepting a plea deal and was required to turn himself in to begin serving his sentence by Tuesday. In addition to the prison sentence, he will forfeit $1.25 million to the US government and a claim to deferred compensation, which amounts to almost $250,000. Causey's plea deal came just days before the scheduled trial of fellow ex-Enron executives Kenneth Lay and Jeffrey Skilling, who were both later convicted of conspiracy and fraud. Lay's conviction was vacated after he died before sentencing and Skilling began serving his 24-year sentence last month. Former Enron CFO Andrew Fastow was sentenced to six years in prison in September 2006 for his role in the accounting fraud. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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