Jury in Wittig Fraud Case Turns to Forfeiture Question
Save Email Print
Bookmark and Share
Updated: 8:00 PM Sep 13, 2005
Jury in Wittig Fraud Case Turns to Forfeiture Question
The federal jury that convicted two former executives of looting Westar Energy is now studying whether the men must forfeit millions of dollars.
Posted: 8:00 PM Sep 13, 2005
Reporter: AP
Font Size:

The federal jury that convicted two former executives of looting Westar Energy is now studying whether the men must forfeit millions of dollars.

David Wittig was the CEO and Douglas Lake the chief strategy officer of the Topeka-based utility before they were forced out in late 2002.

Both were convicted yesterday on more than two dozen counts of
conspiracy, money laundering and other crimes. Prosecutors accused
them of inflating their compensation by millions of dollars at the expense of Westar shareholders.

The jury heard arguments Tuesday on whether and how much of their
assets Wittig and Lake should have to turn over to the government.

Prosecutors want at least $28 million from Wittig and more than
$9 million from Lake. The figures include salary, life insurance benefits and other benefits they received from Westar.

loading...
iphone and ipad users