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Former Enron Executive Sentenced

Former Enron executive Rex Shelby was sentenced to two years probation for insider trading. Andrew Schneider reports.

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former Enron building signJudge Vanessa Gilmore sentenced the former vice president of engineering operations for Enron Broadband Services yesterday at Houston’s U.S. District Court.

Shelby’s attorney, Edwin Tomko, describes his client as the “last man standing.” He says the sentencing effectively brings the Enron saga to a close.

“Enron was a unique case at a unique time, and I think that that’s behind us now, and the country’s moved on to other issues.”

Shelby pled guilty to insider trading last November. His two year probation includes a three month stay at a halfway house and a further three months of home confinement.

This marks the end of Shelby’s second trial. His first ended in a mistrial in 2005.