HOUSTON -- The former No. 2 executive in Enron Corp. investor relations pleaded guilty to an insider trading charge Wednesday for cashing out stock options after learning about bad news for Enron's highly touted broadband unit.
Paula Rieker agreed to cooperate with the Justice Department's continuing investigation and turn over to the government $499,333 in profits from her illegal stock sales.
She also agreed to return to Enron $130,000 in retention bonuses she received since the energy company went bankrupt in a sea of scandal in 2001.
All employees who received such bonuses had to sign papers saying they haven't illegally traded stock and cannot be identified as defendants in lawsuits related to the company's implosion.
"It was wrong to sell my stock, but I did," Rieker told U.S. District Judge Melinda Harmon. "I knew it was wrong at the time."
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http://www.newsday.com/business/nationworld/wire/sns-ap-enron-executive,0,3636102.story?coll=sns-ap-business-headlines
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