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Ex-Enron execs ordered to pay back bonuses

4:07 PM Mon, Dec 12, 2005 |
Michelle Homer
 E-mail

A federal bankruptcy court has ordered former Enron executives to pay back the $20 million in bonuses they gave themselves before filing bankruptcy.

The money will be split among 4500 employees who were fired without severance.

"This is a complete vindication of the Employee Committee's claims that there was actual fraud in Enron's attempts to reward favored employees and executives on the eve of bankruptcy," said Mark Maney, lead trial counsel.

The money will be added to the $50 million already recovered by the Employee Committee through negotiation and litigation.