First Enron executive goes to prison
By Jesus Sanchez
Los Angeles Times
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Glisan, 37, who admitted to conspiring with others to pump up Enron's financial results and hide its mounting problems, is the highest-ranking Enron executive to be convicted and the first to go to prison.
Federal authorities took him into custody after he entered his plea before U.S. District Judge Kenneth Hoyt in Houston.
The conviction was a victory for federal prosecutors. But unlike some other former Enron employees who have pleaded guilty, Glisan did not agree to cooperate in the case against other top executives, such as his former boss, former Chief Financial Officer Andrew S. Fastow.
Glisan originally was charged with two dozen counts of money laundering, fraud and conspiracy for his role in several transactions prosecutors say were devised by Fastow, who has pleaded not guilty and is scheduled to go to trial in April. In exchange for Glisan's guilty plea, prosecutors agreed to drop the remaining charges.
In addition to being sentenced to federal prison, Glisan agreed to give up $938,000 in profits he made from an investment partnership related to Enron and to forgo a $412,000 income tax refund. He also will remain under government supervision for three years following his release from prison.
"Mr. Glisan today accepted responsibility for his part in Enron's collapse," acting Assistant U.S. Attorney General Christopher Wray said in a statement. "We fully intend to see to it that all those who have criminal responsibility are brought to justice."
