Ex-Finance Chief of Enron Video-on-Demand Firm Found Guilty

Authored by Mark Hefflinger on June 1, 2006 - 2:22pm.

Houston - The former chief financial officer of Enron Broadband Services (EBS), the bankrupt company's venture with Blockbuster that was said to be developing an Internet video-on-demand service, was convicted by a jury Wednesday on conspiracy and fraud charges, Reuters reported. Kevin Howard faces up to 25 years in prison for his role in illicitly generating more than $110 million in revenue tied to the video-on-demand project, which Enron shuttered several months before its larger accounting scandals surfaced in 2001. Michael Krautz, a former EBS accountant and Howard's co-defendant, was acquitted of the same charges Howard faced. Two other EBS executives will be retried in connection with the failed company later this year. Howard's conviction comes a week after fellow former Enron executives Ken Lay and Jeffrey Skilling were convicted on conspiracy and fraud charges.
http://tinyurl.com/r6v86 (Reuters)