The former chief executive of Enron Corp.'s failed Internet business was sentenced to 16 months in prison for lying about the unit in order to help pump up the firm’s stock price.
The former broadband unit CEO also agreed to pay $8.7 million in restitution.
Joseph Hirko apologized for his actions before being sentenced. He had pleaded guilty to one count of wire fraud as part of a plea deal with federal prosecutors. Hirko remains free on bond until he reports to prison in the next few months.