Ex-Enron official admits wire fraud
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Joseph Hirko, former chief executive of Enron Corp. Broadband Services, pleaded guilty to one count of wire fraud to avert a retrial on fraud, conspiracy and insider-trading charges.
Hirko, 52, entered the plea in federal court in Houston. He agreed to serve 12 to 16 months in prison and pay fines and restitution of $8.7 million.
U.S. District Judge Vanessa Gilmore ordered an investigation to help her decide whether to accept the plea at Hirko’s sentencing March 3. He would face decades behind bars if convicted of all counts in a retrial.
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