Four ex-bankers and former Enron finance director convicted for sham barge sales.
November 3, 2004: 6:00 PM EST
HOUSTON (Reuters) - The jury in the first Enron Corp. criminal trial Wednesday found five defendants guilty and cleared a sixth of any charges.
They were tried in the conspiracy and fraud case surrounding the bankrupt energy company's sale of electricity barges to Merrill Lynch in 1999.
Former Enron finance director Dan Boyle and former Merrill Lynch bankers Daniel Bayly, Robert Furst, William Fuhs and James Brown were convicted by the jury, which began deliberations last Thursday.
Only former Enron accountant Sheila Kahanek was found not guilty.
Each of the defendants faced up to 15 years in prison for the charges. They will be sentenced later.
The five were convicted for Enron's bogus sale of three power-plant barges to Merrill in a scheme to illicitly boost the now-bankrupt energy company's profits to meet Wall Street expectations.
Their lawyers argued during the six-week-long trial that they believed they were conducting a normal business deal.
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