Ex Enron Exec To Pay $31.5 Million Settlement

Former Chairman and CEO of Enron, Lou Pai, has agreed to settle with the SEC for $31.5 million, one of the largest settlements to be paid by an individual for insider trading allegations.

Under the terms of the agreement, Pai will pay $30 million in restitution, plus interest, and a $1.5 million civil fine, less $6 million already forfeited in a class-action lawsuit filed by Enron shareholders.

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Published on Jul-30-08