TonyM
02-15-2007, 10:11 AM
SAN FRANCISCO (Reuters) -- A judge sentenced two former Enron energy traders involved in the scheme to manipulate California energy prices to two years' probation and a $10,000 fine each Wednesday after they cooperated with authorities in the case.
Former Enron executive Jeffrey Richter pleaded guilty in February 2003 to conspiracy to commit wire fraud in connection with Enron's power trading schemes in California. Timothy Belden, Enron's former top West Coast energy trader, made a similar plea in October 2002.
The Enron schemes to manipulate energy prices during California's 2000-2001 energy crisis are estimated to have cost the most populous state about $42 billion.
Former Enron executive Jeffrey Richter pleaded guilty in February 2003 to conspiracy to commit wire fraud in connection with Enron's power trading schemes in California. Timothy Belden, Enron's former top West Coast energy trader, made a similar plea in October 2002.
The Enron schemes to manipulate energy prices during California's 2000-2001 energy crisis are estimated to have cost the most populous state about $42 billion.