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Posted: 6:25 PM Mar 31, 2006
Wittig and Lake Forfeiture
Former Westar execs forfeit $53 million back to utility.
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Two former Westar Energy executives are ordered to forfeit more than $53 million to the Kansas utility they were convicted of looting.
In separate orders issued late yesterday, US District Judge Julie Robinson divided up the forfeited assets of David Wittig and Douglas Lake. The assets will be split among Wittig's wife, the government and Westar. The utility will get the bulk of the forfeited assets.
Former CEO Wittig forfeited $44 million to Westar. Lake, the former executive vice president, forfeited $9 million.
Wittig also was ordered to forfeit $10 million to the federal government. His wife, Beth, got $367,000.
Wittig and Lake are to be sentenced Monday. A presentence report
recommends that both be sentenced to life in prison.
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