Duke Energy Exec Acquitted Of 19 Counts Of Fraud

Law360, New York (December 7, 2005, 12:00 AM EST) -- A former energy company executive that could have faced over 20 years of prison time for allegations of fraud has been acquitted of charges that he and other officers manipulated the company’s share price to inflate profits and increase their bonuses.

Todd Reid, the former vice president of Duke Energy Company, was found not guilty of recording false trades that allegedly inflated the company’s revenue. His co-defendant, Timothy Kramer, was acquitted of mail fraud, wire fraud, and seven counts of conspiracy.

Kramer still faces 12 more...
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