Court reins in use of fraud law

Court reins in use of fraud law

WASHINGTON

The Supreme Court on Thursday sharply curtailed prosecutors’ use of an anti-fraud law that was central in convicting politicians and corporate executives in many of the nation’s most prominent corruption cases. The ex-CEO of disgraced energy giant Enron and a Canadian media mogul, both in prison, are among the figures who could benefit from the ruling.

The justices voted 6-3 to keep the law in force, even as they joined unanimously in weakening it, and left it to a lower court to decide whether Jeffrey Skilling, the former Enron boss, and Conrad Black, the former newspaper owner, should have their convictions stemming from “honest services” fraud overturned.

Demand outpaces supply for iPhone

SEATTLE

The iPhone 4 has arrived, but for some people the wait continues as Apple sprints to keep up with fierce demand for its latest gadget. From Tokyo to San Francisco, some stores started selling out of Apple Inc.’s newest iPhone just hours after it went on sale Thursday. Some would-be buyers walked away disappointed; tensions grew at Apple stores that hadn’t run out.

From wire reports