In getting ex-Enron treasurer Ben Glisan to plead guilty yesterday, the feds nailed the first Enron crook. Glisan, 37, was sentenced to five years in jail and three years of probation.
How many more Enron thieves are likely to go? Probably enough to fill a wing of an air-conditioned, cable-TVed, white-collar jail.
After reading the forthcoming The Smartest Guys in the Room, the latest of a long line of Enron books, I am convinced that the big three are all headed for the slammer: Ken Lay, Jeff Skilling, and Andy Fastow, respectively former chairman, chief executive, and chief financial officer.
If you have Enron fatique, and I don’t blame you if you do, you won’t want to read yet another Enron book, for sure. But Smartest Guys, written by Fortune‘s Bethany McLean and Peter Elkind, is the best-written and most deeply researched of all the books that have tried to put the disaster into context.
As for Glisan, he also agreed to forfeit $938,000 he made from an Enron deal and (great for us taxpayers) also agreed not to seek a refund of $412,000 in income taxes he paid last year. He’s still not cooperating with prosecutors, so we can only hope he serves all his time behind bars.