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Ex-Enron Executive Causey Reports To Jail

Former Enron Corp. executive Richard Causey has reported to prison to begin serving 5½ years for his role in the company's scandalous collapse, his attorney and prison officials said Wednesday.

Causey, who turns 47 next week, reported Tuesday to the Bastrop Federal Correctional Institution, a low- and minimum-security prison about 30 miles southeast of Austin. Bob Mace, one of Causey's attorneys, said he and Causey's wife, Elizabeth, accompanied him to the prison. Causey's two children, 18 and 20 years old, were not present.

Mace would not discuss other details about the event.

Causey, Enron's former chief accounting officer, pleaded guilty to securities fraud in 2005, shortly before he was scheduled to be tried with Enron founder Kenneth Lay and former Chief Executive Jeffrey Skilling on conspiracy, fraud and other charges related to the company's collapse. Causey admitted that he and other senior Enron managers made various false public findings statements.

The Bastrop prison holds 1,371 inmates, who can earn from 12 cents to 40 cents an hour working at jobs such as food service or as an inmate orderly, plumber, painter, or groundskeeper, according to the Bureau of Prisons Web site.

Enron, once the nation's seventh-largest company, crumbled into bankruptcy proceedings in December 2001 after years of accounting tricks could no longer hide billions in debt or make failing ventures appear profitable. The collapse wiped out thousands of jobs, more than $60 billion in market value and more than $2 billion in pension plans.

After Causey serves his prison sentence, he will also have to serve two years' probation and pay a $25,000 fine that will be distributed to Enron's victims.

Causey had already agreed to pay another $1.25 million to the victims' funds and forfeited a claim to about $250,000 in deferred compensation.

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