Defend Truth

Enron’s Internet division CEO gets 16 months

Enron’s Internet division CEO gets 16 months
By Daily Maverick Legacy
29 Sep 2009
0

Almost eight years after one of the most-publicised bankruptcies in history, Enron’s ugly story is still being told and re-told in courts across the US. The latest instalment is Joseph Hirko, the Houston, Texas, company’s broadband division chief, who was jailed for 16 months and fined $8.7-million. Though Hirko apologised for his actions, his story is just another card in the one of the biggest houses of cards ever built. He lied about Enron’s broadband capabilities and then used the inflated numbers to boost the company’s share price. Investor losses due to Hirko’s actions alone were around $80-million.

Gallery

Top Reads This Hour

Roger Jardine: ‘We have to fix the balance sheets of SA Inc,’ says Change Starts Now presidential hopeful
Maverick News

Roger Jardine: ‘We have to fix the balance sheets of SA Inc,’ says Change Starts Now presidential hopeful
Slew of dubious legislation being rushed through Parliament is ‘electioneering at its worst’ - legal expert
Maverick News

Slew of dubious legislation being rushed through Parliament is ‘electioneering at its worst’ – legal expert
Zondo lawyers say Gupta kingpin Salim Essa’s review bid may end up costing as much as R10m
Maverick News

Zondo lawyers say Gupta kingpin Salim Essa’s review bid may end up costing as much as R10m
Gangstas’ Paradise - how the 'bullet rule' of gangsters is strangling the life out of SA’s Mother City
DM168

Gangstas’ Paradise – how the 'bullet rule' of gangsters is strangling the life out of SA’s Mother City
Fact Check: Was a recent speech by Cyril Ramaphosa genuinely AI-generated?
Maverick News

Fact Check: Was a recent speech by Cyril Ramaphosa genuinely AI-generated?

TOP READS IN SECTION

Gangstas’ Paradise - how the 'bullet rule' of gangsters is strangling the life out of SA’s Mother City
DM168

Gangstas’ Paradise – how the 'bullet rule' of gangsters is strangling the life out of SA’s Mother City
Roger Jardine: ‘We have to fix the balance sheets of SA Inc,’ says Change Starts Now presidential hopeful
Maverick News

Roger Jardine: ‘We have to fix the balance sheets of SA Inc,’ says Change Starts Now presidential hopeful
Zondo lawyers say Gupta kingpin Salim Essa’s review bid may end up costing as much as R10m
Maverick News

Zondo lawyers say Gupta kingpin Salim Essa’s review bid may end up costing as much as R10m
Families seek clarity on travel with Zimbabwean Exemption Permits after extension
Africa

Families seek clarity on travel with Zimbabwean Exemption Permits after extension
Slew of dubious legislation being rushed through Parliament is ‘electioneering at its worst’ - legal expert
Maverick News

Slew of dubious legislation being rushed through Parliament is ‘electioneering at its worst’ – legal expert

Investigations

News & Analysis

Features

Newsletters

Community

DM168

Daily Maverick © All rights reserved

Please peer review 3 community comments before your comment can be posted

You’ll miss it when it’s gone...

It’s hard to imagine South Africa without journalism. Then again, it was unthinkable that we would be without electricity as much as we are. Daily Maverick is free to read. We don’t have a paywall because we believe that everyone, regardless of their financial status, should be able to access the news. Which gives our journalism a greater chance of broader impact on society.

If you agree that our work makes South Africa a better place (and want to see us keep doing it) then please consider joining Maverick Insider and supporting our journalism.

You choose the amount and you can cancel at any time.

JOIN THE CAUSE
Lightbulb
MavericKids vol 3

How can a child learn to read if they don't have a book?

81% of South African children aged 10 can't read for meaning. You can help by pre-ordering a copy of MavericKids.

For every copy sold we will donate a copy to Gift of The Givers for children in need of reading support.

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options