Convicted Merrill Lynch executive to report to prison for Enron scheme

[JURIST] The former head of investment banking at Merrill Lynch [corporate website] who was convicted last year in connection with Enron's bogus sale of power barges, will report to a low security federal prison in Hopewell, Virginia [prison website] on July 14 to serve his two and a half year sentence [JURIST report], a judge ruled Friday. Daniel Bayly will be the first of four convicted former Merrill executives to serve time. US District Judge Ewing Werlein denied a request that he remain free on bond pending the appeal of his conviction for conspiracy and fraud. One of Bayly's co-defendants, James A. Brown, will report to prison on August 12. Two other defendants were sentenced in May but have not yet received surrender orders. AP has more.

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.