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Keyword: enronlist

Brevity: Headers | « Text »
  • Lay's death could set Skilling free

    07/07/2006 5:13:03 PM PDT · by Sunshine55 · 45 replies · 1,703+ views
    The Globe and Mail ^ | 07/07/06 | BARRIE MCKENNA
    Lawyers likely to argue that entire case has effectively been voided BARRIE MCKENNA WASHINGTON -- Kenneth Lay's sudden death could prove to be an unexpected legal bequest to Jeffrey Skilling, his co-defendant in the landmark Enron Corp. fraud case. Mr. Skilling's legal team will almost certainly invoke Mr. Lay's demise to try to reverse his own fraud and conspiracy conviction or demand a retrial, legal experts said yesterday. That's because Mr. Lay's death Wednesday of an apparent heart attack effectively voids the entire case against the Enron founder, including the guilty verdict. Mr. Skilling, the former Enron chief executive officer...
  • How Ken Lay cheated Justice

    07/06/2006 3:02:26 PM PDT · by TheRedSoxWinThePennant · 55 replies · 1,695+ views ^ | today |
    With his death from a massive heart attack on Wednesday, Ken Lay cheated justice. And then some. Not only will the Enron founder not end his days in prison, but according to legal precedent, his entire case will be erased from the records.
  • Ken Lay's Final Loophole

    07/06/2006 7:39:44 AM PDT · by toaster · 134 replies · 3,557+ views
    ...because Ken Lay's case may still have been appealed, Lay's death expunges the conviction from his record. This means that any orders to vacate his wealth are annulled, and his family gets to keep millions of dollars that they likely would have lost had he gone to jail.
  • Ken Lay has died (heart attack)

    07/05/2006 7:03:35 AM PDT · by ElRushbo · 514 replies · 21,476+ views
    Reuters | 7/5/06
    cause of death unknown
  • Free Republic "Bump List" Register

    09/30/2001 4:46:44 AM PDT · by John Robinson · 191 replies · 12,118+ views
    I have created a public register of "bump lists" here on Free Republic. I define a bump list as a name listed in the "To" field used to index articles. Free Republic Bump List Register
  • Former Enron Energy Trader Faces Charges

    12/04/2003 8:28:56 PM PST · by Calpernia · 8 replies · 404+ views
    AP via Yahoo ^ | Thu, Dec 04, 2003 | DAVID KRAVETS
    SAN FRANCISCO - A former Enron Corp. executive was charged in a superseding indictment Thursday with 11 counts of conspiracy and fraud in connection with the company's manipulation of energy markets during California's power crisis. John Forney, 41, of Ohio, is the third former Enron official to be charged with illegally manipulating California's electricity prices from the company's Portland, Ore., office. His attorney said he is innocent and will fight the charges at trial. Two other former Enron energy traders pleaded guilty and are cooperating in the federal investigation into Enron's role in the energy debacle, which bankrupted Pacific Gas...
  • 2 years later, most Enron survivors back on feet

    12/02/2003 10:16:18 AM PST · by Tumbleweed_Connection · 2 replies · 393+ views
    Houston Chronicle ^ | 12/1/03 | David Kaplin
    Two years ago today it all came crashing down at Enron Corp. Two years and one week ago Brandon Rigney saw bankruptcy coming, so he quit his job as Enron's Web master. Rather than look for work right away, he began building an online bulletin board to help the 4,500 people who would soon be jobless. Rigney's Web site,, named for the address of the company's headquarters, became an invaluable tool for the ex-Enron community and those still there, a way to network and stay in touch. Last Thursday, vanished from the Internet, because Rigney did not renew...
  • Reports of Federal Warrants are being served at the Municipal Services Building in Phila.

    10/10/2003 1:07:25 PM PDT · by Dog · 177 replies · 1,011+ views
    Local NBC station in Philly is reporting federal warrants are being served in at the Municipal Services Building. There is also a report of an emergency meeting of Mayor Street's cabinet taking place right now..
  • Enron and Clinton- Dirty Deals and the DNC Cash Machine

    05/16/2003 10:48:57 AM PDT · by backhoe · 7 replies · 1,699+ views
    SoftWar! ^ | 04-16-03 | by Charles R. Smith ENRON documents Enron and Clintonby Charles R. Smith Dirty Deals and the DNC Cash Machine Fiction writers documented the fall of Enron as a scandal to be linked toPresident Bush. Yet the U.S. Commerce Department has just released over 5,000pages of documents that detail the Enron scandal during the Clinton years. The Commerce materials outline a long-standing and very close relationshipbetween the Clinton administration and Enron. For example, in March 1999 U.S.Commerce Secretary William Daley's trade delegation to China produced severalsweet business deals, including a special little gem for Enron. Enron International China Pipeline, a wholly owned subsidiary...
  • Investigators: Enron taxes 'eye-popping'

    02/12/2003 10:26:10 PM PST · by lewislynn · 21 replies · 516+ views
    Feb. 12, 2003, 11:36PM Investigators: Enron taxes 'eye-popping' By DAVID IVANOVICH Copyright 2003 Houston Chronicle Washington Bureau WASHINGTON -- Congressional investigators will reveal "eye-popping" details today about executive compensation practices at Enron Corp., as they walk lawmakers through the elaborate strategies the company used to manipulate its taxes and accounting, a key lawmaker said Wednesday. Staff member from the Joint Committee on Taxation will present their findings from a yearlong examination of Enron's tax records to the Senate Finance Committee. These congressional tax experts were asked to determine whether Enron's Byzantine tax strategies were legal. Senate Finance Committee Chairman Charles...

    01/25/2003 2:28:33 PM PST · by webber · 4 replies · 455+ views
    Accuracy In Media ^ | Reed Irvine and Cliff Kincaid
    CBS Enron Movie Reveals Bias By Reed Irvine and Cliff Kincaid<CBS aired a movie this month call The Crooked E: The Unshredded Truth About Enron," and in doing so revealed several of their biases and journalistic practices. The movie was based on a book by Brian Cruver, a young business school graduate who joined the Houston energy company just months before a series of revelations led to the downfall and the then-largest bankruptcy in history. There is no doubt that many of the top executives were extremely corrupt, and deserve to go to jail for cooking the books, deceptive transactions,...
  • Enron seeking OK for $29 million in bonuses

    01/24/2003 5:56:04 PM PST · by deport · 3 replies · 384+ views
    Houston Chronicle ^ | 1-24-03 | ERIC BERGER
    Jan. 24, 2003, 12:47AM Enron seeking OK for $29 million in bonusesBy ERIC BERGERCopyright 2003 Houston Chronicle It's bonus time at Enron again. After more than 400 days in bankruptcy, the company is seeking court permission for a new round of bonuses totaling $29 million, spread among about 900 employees. This round follows a $140 million retention plan approved last April and $105 million in bonuses paid at the time Enron filed for bankruptcy. Because part of the $140 million package expires at the end of February, Enron officials say the company must assure that certain employees, many of whom...
  • 'Explosive' E-Mails Allowed in Oil Trial

    12/23/2002 7:22:07 PM PST · by Robert357 · 12 replies · 460+ views
    Seattle Post Intellengcer ^ | Monday, December 23, 2002 | DEVLIN BARRETT
    A federal judge ruled Monday that "explosive" e-mails about J.P. Morgan Chase and Co.'s oil deals with Enron could be shown to a jury in a $1.1 billion lawsuit over who should pay for the failed financial pacts. Morgan is suing 11 insurance companies for refusing to pay more than $1 billion for guarantees on failed oil and gas trades arranged between Enron and a Chase-affiliated offshore company called Mahonia Ltd. The Chase affiliate made six deals with Enron beginning in 1998, in which Enron was paid in advance for oil and natural gas to be delivered months or years...

    12/19/2002 11:56:47 PM PST · by kattracks · 4 replies · 284+ views
    New York Post ^ | 12/20/02 | JESSICA SOMMAR
    <p>December 20, 2002 -- Feds are turning up the heat on tough-minded Andrew Fastow by preparing to charge the former Enron chief financial officer's wife.</p> <p>A federal grand jury reportedly has heard testimony about Lea Fastow, who will be 41 next week, regarding money she and the family may have received from Enron.</p>
  • Enron Trades Were Circular, J.P. Morgan Official Testifies

    12/03/2002 9:37:06 PM PST · by Ernest_at_the_Beach · 3 replies · 464+ views
    Yahoo via Dow jones ^ | Tue Dec 3, 7:33 PM ET | Lingling Wei and Colleen DeBaise Dow Jones Newswires
    NEW YORK -- A series of prepaid oil and gas contracts among Enron Corp. , J.P. Morgan Chase & Co. and an offshore entity were complex circular trades that ultimately went back to Enron, a J.P. Morgan official testified Tuesday. The acknowledgment by Philip Levy, J.P. Morgan's associate general counsel, came during the second day of a trial in Manhattan federal court, in which the second-largest U.S. bank hopes to recoup $956 million from 11 insurance companies over Enron-related deals. Mr. Levy said "yes" in response to U.S. District Court Judge Jed S. Rakoff's question: "The structure was totally circular?"...
  • Enron's legacy: massive change - Reformers' ideas lauded, loathed

    12/01/2002 11:27:42 AM PST · by Ernest_at_the_Beach · 4 replies · 526+ views
    Houston Chronicle ^ | Dec. 1, 2002, 10:22AM | DAVID IVANOVICH
    Dec. 1, 2002, 10:22AM Enron's legacy: massive change Reformers' ideas lauded, loathedBy DAVID IVANOVICH RESOURCES Enron series: • How Enron's culture led to its downfall• The jokes and notoriety will fade - eventually • Election fallout expected to be minor • Employees transformed in the aftermath An Enron timeline:• • The aftermath• Making senseof it all: • • • • • • Enron's answers to frequently asked questions The politics: • • • The bankruptcy:• • Enron's Chapter 11 filings• Enron's financial statement - Released June 17, 2002 (Large file: 188 pages PDF, 0.5 MB)• Bankruptcy examiner's report - Released...
  • Senator Releases Documents on Gore Aide's Enron Ties

    11/12/2002 11:13:02 PM PST · by JohnHuang2 · 1 replies · 315+ views
    New York Times ^ | Wednesday, November 13, 2002 | By RICHARD A. OPPEL Jr.
    November 13, 2002 Senator Releases Documents on Gore Aide's Enron TiesBy RICHARD A. OPPEL Jr. ASHINGTON, Nov. 12 — In a parting shot at Democrats today, Senator Fred D. Thompson released documents detailing how one of Al Gore's top presidential campaign officials, Johnny Hayes, was paid to do consulting work for Enron during the 2000 campaign. Mr. Hayes was hired to help the company resolve a costly dispute with a federal agency and also to lobby federal energy regulators. Mr. Hayes, who was Mr. Gore's national finance chairman in the 2000 campaign, was paid $100,000 by a prominent law firm,...
  • Enron's role in state power crisis (Sac BEE explains the Enron lie)

    10/27/2002 1:57:35 PM PST · by Robert357 · 11 replies · 654+ views
    Sacarmento BEE ^ | October 27, 2002 | Dale Kasler
    <p>With such menacing names as "Death Star" and "Ricochet," the elaborate trading schemes cooked up by Enron Corp. to hot-wire electricity prices sound like the key to the California energy crisis. The truth isn't so clear. For all its swagger and cleverness -- and despite ex-trader Timothy Belden's guilty plea Oct. 17 to charges of price manipulation -- Enron was something of a supporting player in the drama that consumed California's electricity market during 2000 and 2001, most experts agree. The Houston conglomerate was only a trader: a buyer and seller of electricity produced by others.</p>
  • Credit Suisse Moves to Quell Capital Rise Fears (More x42 Cronies In Financial Trouble)

    10/04/2002 8:14:37 AM PDT · by anymouse · 13 replies · 651+ views
    Reuters ^ | Friday October 4, 10:08 am ET | Knut Engelmann
    ZURICH, Oct 4 (Reuters) - Credit Suisse (CSGZn.VX) insisted on Friday it was adequately capitalised, hoping to quash fears it might need to raise fresh capital which sent its ailing shares down over 15 percent to their lowest in over nine years. "Due to the drop in its share price yesterday and today, Credit Suisse Group wishes to announce that it is not aware of any objective reasons prompting this development," Switzerland's second-largest financial conglomerate said in a brief statement. "The group's present capital resources remain adequate, and as stated before, no capital increase of the group is planned," it...
  • Congressional Panel Says Goldman Spun IPOs Widely (Rubin 'Perp Walk' Watch)

    10/02/2002 10:27:11 PM PDT · by anymouse · 7 replies · 583+ views
    Reuters ^ | Wednesday October 2, 11:55 pm ET | Kevin Drawbaugh
    Wall Street powerhouse Goldman Sachs gave officers or directors of 21 favored investment banking clients access to lucrative initial public offerings it managed, said a congressional committee on Wednesday in a scathing report Goldman slammed as "rubbish." The so-called "spinning" of IPOs by Goldman occurred from 1996 to 2000 and allowed numerous high-profile corporate executives to reap hefty profits from new, red-hot, mostly technology and telecommunication issues, said the report from the House of Representatives Financial Services Committee. Among those who received the IPO share access from Goldman were former Enron Corp. Chairman Kenneth Lay and former Tyco International chief...
  • Harvard pans Clinton-Lay sweetheart deal in India

    10/02/2002 11:26:18 PM PDT · by JohnHuang2 · 6 replies · 645+ views ^ | Thursday, October 3, 2002 | By Paul Sperry
    WASHINGTON -- The Kennedy School of Government at Harvard University is holding up a failed Enron Corp. power project in India -- which former President Clinton helped broker and fund with government loans -- as a lesson in bad public policy and business. The case study, a copy of which was obtained by WorldNetDaily, is used in a class taught by Kennedy School professor Henry Lee. The study pans the Enron-led deal, a $3 billion power-plant project in India, as risky and financially unfeasible from the start. Yet the Clinton administration backed the project with more than $642 million in...
  • Enron Center of Power-Price Fraud Probe ("Enron" Rubin/"Global Crossing" McAuliffe watch - Day 48)

    09/16/2002 5:24:38 AM PDT · by Libloather · 5 replies · 406+ views
    Yahoo News ^ | 09/16/02
    Enron Is Center of U.S. Probe of Alleged Power-Price Fraud Mon Sep 16, 2:03 AM ET WASHINGTON -- Federal prosecutors are investigating alleged fraud by Enron Corp. in the manipulation of power prices in three Western states during the California electricity crisis two years ago, Monday's Wall Street Journal reported. The Justice Department is presenting evidence to a new grand jury that was convened in San Francisco this summer, lawyers close to the case said. It is the second grand jury in the Enron case; a special grand jury in Houston already had been investigating last year's collapse of the...
  • Green with Greed

    09/13/2002 2:49:23 PM PDT · by Tailgunner Joe · 17 replies · 589+ views ^ | 09/13/2002 | Chris Horner
    "Green" groups do quite well for themselves courtesy of business and foundations derived from corporate wealth (Pew, Ford, Rockefeller, Heinz, MacArthur). Still, the green machine is not free from financial challenge. History has proven they cannot rely upon industrial mishaps despite their lucrative bombast in response. Revenue problems forced even the icon Greenpeace to merge with a fairly obscure rival. At the World Summit on Sustainable Development earlier this month, however, industry and greens got even cozier in a desperate move to suppress the availability of energy. Some of these businesses merely continue the wildly unsuccessful pattern of seeking to...
  • UN Funded Enron Project In China

    08/28/2002 7:50:55 AM PDT · by Starmaker · 2 replies · 380+ views
    ToogoodReports ^ | August 28, 2002 | Cliff Kincaid
    The environmentalists have already scored a major victory at Earth Summit II. A United Nations agency that helped Enron develop Communist China´s energy resources is getting almost $3 billion more from the U.S. and other countries. In advance of the World Summit on Sustainable Development, being held August 26-September 4 in South Africa, the United Nations announced on August 17 that a fresh $2.9 billion will be funneled into its Global Environment Facility (GEF). The U.S. is listed by the GEF as one of 32 donor countries to the "replenishment" of the GEF. The head of the GEF says he...
  • LAY MAY BE NAILED FOR INSIDER TRADES: 514% increase in average number shares sold

    08/30/2002 2:56:41 AM PDT · by Liz · 15 replies · 452+ views
    NY POST ^ | August 30, 2002 | JESSICA SOMMAR
    <p>Federal prosecutors, under intense pressure to collar Enron's former chief executives, may resort to nailing the well-connected former chairman Ken Lay through his whopping big stock sales. Lay, a personal friend of President Bush, raked in tens of millions of dollars selling Enron stock at the same time he was publicly touting the stock to employees and shareholders.</p>
  • Enron-gate: Democrats Lobbied for the Fallen Energy Giant

    08/25/2002 10:15:57 AM PDT · by Republican_Strategist · 19 replies · 1,020+ views
    Various Links | August 25, 2002 | Republican_strategist
    Who lobbies for Enron? Enron Understated Its Lobbying Expenditures, CRP Analysis Finds Below is a list of Enron-related lobbying expenditures for the first six months of 2001, reported by lobbying firms hired by Enron Corp. (An asterisk means the firm listed Enron Corp. as a client, but reported activity of less than $10,000. These firms were not included in the total reported by outside firms.) Quinn Gillespie & Associates LLC – $525,000Wyatt Tarrant & Combs LLP – $500,000 Bracewell & Patterson – $360,000 Sideview Partners Inc – $200,000 Alexander Strategy Group – $120,000 Commonwealth Group – $40,000Bob Moss Associates –...
  • Enron's Democrat Pals - Documents obtained by TIME show close ties with Clinton Administration

    08/18/2002 12:46:10 AM PDT · by HAL9000 · 16 replies · 1,416+ views ^ | August 17, 2002 | MICHAEL WEISSKOPF
    Enron's Democrat Pals Documents obtained by TIME show the energy giant enjoyed much closer ties with Clinton Administration regulators than was generally known Before its messy decline and fall, Enron had plenty of clout in George W. Bush's Washington, from the personal ties between chairman Ken Lay and the President to the company's alleged influence on Vice President Dick Cheney's energy task force. But Enron's cozy relationship with Washington didn't start there. Documents obtained by TIME show the energy giant enjoyed much closer ties with Clinton Administration regulators than was generally known. Long before Cheney's task force met with...
  • Enron Judge Grants Bonus Waivers

    08/15/2002 1:53:07 PM PDT · by Tumbleweed_Connection · 4 replies · 329+ views
    Newsday/Dow Jones Newswires ^ | 8/15/02 | LINGLING WEI
    <p>NEW YORK -- The judge in the Enron Corp. bankruptcy case ruled Thursday to grant 115 rank-and-file Enron employees legal waivers that exempt them from having to give back any of the bonuses they received days before the company's bankruptcy filing.</p> <p>The ruling represents an extension of a key-employee retention plan Judge Arthur Gonzalez approved in April.</p>
  • FERC to probe Enron's role in crisis

    08/14/2002 8:11:02 AM PDT · by NormsRevenge · 4 replies · 320+ views
    Mercury News ^ | 8/14/02 | Jim Puzzanghera
    <p>WASHINGTON - Federal energy regulators Tuesday began a formal investigation of Enron after a preliminary review found that the bankrupt power-trader had used ``deceit'' and ``false information'' in an attempt to profit from California's troubled electricity market.</p> <p>In addition to probing three Enron subsidiaries for possible misconduct during the California crisis in 2000 and 2001, the Federal Energy Regulatory Commission said Tuesday that it had launched investigations of two out-of-state electric utilities that did business with Enron. The commission will try to determine whether the companies illegally manipulated California's energy market, leading to sky-high electricity prices and rolling blackouts.</p>
  • Regulators find evidence Enron forced up prices (DUH!)

    08/13/2002 9:36:29 PM PDT · by lewislynn · 6 replies · 312+ views
    Houston Chronical ^ | Aug. 13, 2002 | DAVID IVANOVICH
    <p>WASHINGTON -- Federal regulators say they have evidence Enron and two other energy-trading firms manipulated electricity and natural gas prices during California's energy crisis.</p> <p>While the findings by its staff are only preliminary, the Federal Energy Regulatory Commission Tuesday launched formal investigations to determine if Enron, together with El Paso Electric Co. and Avista Corp., distorted prices at a time when California was scrambling to buy electricity.</p> <p>"Enron's corporate culture ... fostered a callous disregard for the American energy customer," staffers wrote in this interim report to Congress sent to Capitol Hill on Tuesday.</p>
  • Enron Scandal Points to Indonesia

    08/13/2002 6:24:03 AM PDT · by backhoe · 18 replies · 563+ views
    softwar! ^ | 8-13-02 | Charles Smith
    Sent: Tuesday, August 13, 2002 10:50 AM Subject: Enron Scandal Points to Indonesia >> > Enron FOIA documents -> > Enron Scandal Points to Indonesia> Charles R. Smith> Tuesday, Aug. 13, 2002> Energy CEO Invited to 2001 Space Conference> > Much has been written about Enron's supposed connections to the Bush> administration. Instead of engaging in speculation, this reporter sought out the> facts and I have uncovered the black gold of journalism, real documentation> linking Enron to corrupt deals.> > In response to a 2001 Freedom of Information request, the U.S. Commerce> Department indicated that it might have...
  • Five former Enron executives who reaped millions seek extra pay

    08/12/2002 5:14:43 PM PDT · by RCW2001 · 12 replies · 437+ views
    Associated Press / SFGate
    BRAD FOSS, AP Business WriterMonday, August 12, 2002 ©2002 Associated Press URL: (08-12) 13:15 PDT NEW YORK (AP) -- Among a group of laid-off Enron workers who are asking a bankruptcy court for extra pay are five insiders who reaped $7 million in the year before the company's collapse. They include the wife of former chief executive Jeffrey Skilling. The five insiders joined 49 other former colleagues in opting out of a tentative agreement negotiated earlier this summer that would give some 3,550 laid-off workers as much as $13,500 each in severance. Instead, they filed individual claims -- with...
  • A year later, Watkins' (Enron) memo tip of iceberg

    08/11/2002 11:43:15 PM PDT · by lewislynn · 2 replies · 477+ views
    Houston Chronical ^ | 8-12-02 | TOM FOWLER
    A year later, Watkins' memo tip of iceberg By TOM FOWLER Copyright 2002 Houston Chronicle As the business world raised a collective eyebrow at the resignation of Enron Chief Executive Jeffrey Skilling a year ago this week, another executive inside the company was busy trying to raise alarms. On Aug. 15, Sherron Watkins, a former Arthur Andersen accountant-turned-Enron vice president, fired off a lengthy memo to Chairman Ken Lay laying bare her concerns over accounting issues that were threatening to boil over and expose the company to deep losses. "I am incredibly nervous that we will implode in a...
  • Skilling feeling the heat [Ex-Enron CEO expects charges]

    08/11/2002 4:38:25 PM PDT · by deport · 9 replies · 529+ views
    Houston Chronicle ^ | Aug. 11, 2002 | MICHAEL HEDGES
    Aug. 11, 2002, 1:35PM Skilling feeling the heat Ex-Enron CEO expects chargesBy MICHAEL HEDGESCopyright 2002 Houston Chronicle Washington Bureau One year after resigning ahead of the Enron Corp. cataclysm, former CEO Jeffrey Skilling is preparing for likely criminal charges and an ensuing legal battle that will determine his future. "He definitely understands there is a strong risk of indictment," said his brother Mark, a lawyer and writer living in Istanbul, Turkey. "He thinks he has committed no crime, but he understands in the political climate that exists now, anything is possible," Mark Skilling said. Lawyers and analysts either directly...
  • Ex-Enron trader is a no-show in power price case

    08/08/2002 7:20:14 PM PDT · by lewislynn · 1 replies · 310+ views
    Houston Chronical ^ | Aug. 8, 2002 | Associated Press
    Aug. 8, 2002, 2:28PM Ex-Enron trader is a no-show in power price case Associated Press WASHINGTON - An Ohio federal court was asked to enforce a subpoena against a former Enron Corp. electricity trader after he failed to give testimony ordered by the Federal Energy Regulatory Commission, according to documents filed today. John Forney, formerly a manager with the bankrupt energy giant's electricity trading desk in Portland, Oregon, is a key figure in Enron's trading practices that are being investigated by several federal agencies and prosecutors. Forney did not appear for a deposition in Columbus, Ohio, on Wednesday for a...
  • Ex-Executives Say Sham Deal Helped Enron

    08/07/2002 10:00:22 PM PDT · by hole_n_one · 16 replies · 443+ views
    NY. Times via Drudge ^ | DAVID BARBOZA
    Ex-Executives Say Sham Deal Helped EnronBy DAVID BARBOZA OUSTON, Aug. 7 — Desperate to meet a year-end profit target, the Enron Corporation struck a sham energy deal with Merrill Lynch that let Enron book a $60 million profit in the final days of December 1999, according to former Enron executives involved in the transaction.The executives said that the energy deal, a complex set of gas and power trades, was intended to inflate Enron's profits and drive up its stock price. Enron and Merrill Lynch, they said, agreed that the deal would be canceled after Enron booked the profits; it later...
  • Enron Investigators Eye Foreign Contracts

    08/05/2002 10:49:31 AM PDT · by Republican_Strategist · 24 replies · 423+ views
    Reuters ^ | Mon Aug 5, 7:45 AM ET | Reuters
    NEW YORK (Reuters) - Federal prosecutors are investigating whether or not Enron Corp. bribed foreign government officials to win contracts abroad, the Wall Street Journal reported on Monday. The Justice Department ( news - web sites)'s Enron Task Force is examining the energy company's non-U.S. operations for possible criminal violations of the Foreign Corrupt Practices Act, the paper said citing government officials and lawyers close to the case. Enron was quoted in the Journal as denying ever paying bribes, and said that it had "a clear anticorruption policy prohibiting the payment, solicitation and receipt of bribes in any form." The...
  • Enron mined California (deregulation) loopholes

    08/01/2002 10:37:44 PM PDT · by lewislynn · 7 replies · 561+ views
    Houston Chronical ^ | Aug. 1, 2002 | Aug. 1, 2002
    Aug. 1, 2002, 11:44PM Enron mined California loopholes Company lied about capacity during crisis By DAVID IVANOVICH Copyright 2002 Houston Chronicle Washington Bureau WASHINGTON -- Enron Corp. lied to California's electric grid operator and took advantage of flaws in the state's deregulation plan to exploit California's electricity crisis, federal regulators said. The Federal Energy Regulatory Commission, in drafting its master plan for the nation's wholesale power markets, tried to incorporate safeguards to ensure traders cannot act as Enron did at a time when California was struggling to keep the lights on. Examining the strategies Enron is known to have used,...
  • Enron at the CIA

    07/30/2002 2:24:39 PM PDT · by honway · 16 replies · 407+ views | July 30, 2002 | Carl Limbacher
    Enron at the CIA "Are you one of those Enron guys?" We hear this is a common question put to new employees at CIA headquarters by their fellow colleagues - once their colleagues discover they once worked for the agency. At least a dozen top Enron operatives have joined the CIA. Better put, these officers have returned to the CIA. Apparently, Enron recruited heavily from the CIA to help field its global operations dealing with major corporations and nations. With Enron having gone bust and the economy in turmoil, Enron has turned out to be a source of veteran CIA...
  • Dream Job Turns Into a Nightmare (Enron crash and burn)

    07/29/2002 1:47:42 PM PDT · by LakerCJL · 5 replies · 548+ views
    Washington Post ^ | Monday, July 29, 2002 | April Witt and Peter Behr
    This is the second of 5 articles detailing what happened at Enron. It is extremely interesting and easy to understand for everyone (even those that don't have an advanced degree in accounting). There are links to the first article and, I suppose, the last three will come over the next couple of days. This particular report focuses on Jeff Skilling and his role in the collapse... Here's an interesting excerpt: "Skilling's most important innovation may have been in spearheading a fundamental change in the way Enron did business. In 1992, he persuaded federal regulators to permit the company to use...
  • FBI, U.S. attorneys probing Enron seek help from Senate panel

    07/26/2002 9:33:52 PM PDT · by NormsRevenge · 12 replies · 441+ views
    Sac Bee ^ | 7/26/02 | Jennifer Coleman - AP
    <p>SACRAMENTO (AP) - The federal task force investigating Enron has met with investigators with the state Senate committee probing the California energy crisis to review documents the committee obtained under subpoena, sources told The Associated Press Friday.</p> <p>Six investigators from the FBI and the U.S. attorney's office first met with state Senate investigators for four hours on July 15, and have had several telephone discussions since then, said a legislative source close to the investigation. Another source close to the investigation confirmed the meetings.</p>
  • Citigroup, Morgan Execs Questioned

    07/25/2002 10:21:33 PM PDT · by kattracks · 41 replies · 615+ views
    AP | 7/26/02
    WASHINGTON, Jul 25, 2002 (AP Online via COMTEX) -- A senator leading an investigation into big investment banks' ties with now-bankrupt Enron Corp. has asked the heads of Citigroup Inc. and J.P. Morgan Chase & Co. to answer questions on their use of offshore companies in deals with Enron. Sen. Carl Levin, D-Mich., sent letters Thursday to Citigroup chairman and chief executive officer Sanford Weill and J.P. Morgan Chase president and CEO William Harrison, setting a Monday deadline for them to personally provide the information. Levin heads the investigative panel of the Senate Governmental Affairs Committee. At a hearing...
  • Enron-N.Y. Times Co. Deal Highlights Media's Dilemma

    07/18/2002 6:19:58 AM PDT · by aculeus · 4 replies · 485+ views
    Washington Post ^ | July 18, 2002 | Howard Kurtz
    When Enron collapsed amid spectacular scandal, the New York Times repeatedly assailed the company in editorials for its tangled finances. Five years ago, it turns out, the New York Times Co. struck a "newsprint swap agreement" -- a financial deal in which no physical assets changed hands -- with the very same Houston energy company. [See link for rest of article.]
  • Army secretary says he plans to testify about Enron

    07/15/2002 3:39:52 PM PDT · by Bobibutu · 1 replies · 294+ views
    Associated Press ^ | 7/15/2002 | Staff
    <p>WASHINGTON (AP) Army Secretary Thomas White indicated on Monday that he intends to testify as requested by the Senate Commerce Committee without invoking his Fifth Amendment right against self-incrimination.</p> <p>White is scheduled to testify on Thursday about his role in Enron Corp. before its collapse. It would be his first appearance before Congress to discuss his former job as head of Enron Energy Services, a subsidiary.</p>

    07/15/2002 3:04:13 AM PDT · by JohnHuang2 · 4 replies · 273+ views
    New York Post ^ | Monday, July 15, 2002 | By WILLIAM J. GORTA
    <p>July 15, 2002 -- Some congressional Republicans are hoping that Army Secretary Tommy White bites the bullet and resigns before he testifies this week at a Senate committee hearing on the collapse of Enron, according to a report in Newsweek.</p>
  • India venture was Enron's first failure

    07/12/2002 10:32:16 PM PDT · by JohnHuang2 · 1 replies · 290+ views
    Washington Times ^ | Saturday, July 13, 2002 | By Neelesh Misra
    <p>BOMBAY — On a craggy hill overlooking a cove once used by gold smugglers, Enron Corp. set up a $2.9 billion dream enterprise — what was to be the world's largest natural-gas-fired electricity plant.</p> <p>Nine years and a slew of court battles later, the 1,700-acre complex is a rusting ghost town with deserted roads and buildings. Its hospital, school, engineering institute, industrial sites and miles of mango orchards are eerily still. Several gas-storage tanks — each big enough to accommodate a Boeing 747 — are empty.</p>
  • Andersen let Enron traders 'fix' deals

    07/12/2002 1:11:13 AM PDT · by JohnHuang2 · 1 replies · 286+ views ^ | Friday, July 12, 2002 | By Paul Sperry
    WASHINGTON – An internal auditor who worked in Enron Corp.'s controversial trading unit says Arthur Andersen LLP routinely allowed half-baked trades to be recorded as "done deals" on the energy giant's books, WorldNetDaily has learned. The former Enron accountant, who worked with Andersen managers in the Houston trading operation, says the outside auditors agreed to let Enron's hotshot traders "fix" shaky transactions later. "I have recollections of traders running around frantically with Andersen managers and Enron managers on quarter-end closing days trying desperately to include 'done deals' on the book, even though they didn't have all their ducks in a...
  • Bank sues 11 insurers over Enron

    07/01/2002 10:02:19 PM PDT · by lewislynn · 11 replies · 410+ views
    Houston Chronical ^ | July 1, 2002 | unk
    July 1, 2002, 10:18PM Bank sues 11 insurers over Enron By DAVID IVANOVICH Copyright 2002 Houston Chronicle Washington Bureau WASHINGTON -- J.P. Morgan Chase Bank is accusing a group of insurance companies of fraud for refusing to pay nearly $1 billion in claims stemming from the Enron Corp. collapse. J.P. Morgan has sued the 11 insurers -- including Travelers, Liberty Mutual and Federal Insurance -- in an effort to collect on $965 million in surety bonds purchased to guarantee transactions involving J.P. Morgan, Enron, and an offshore J.P. Morgan entity known as Mahonia Ltd. Last month the insurers accused J.P....
  • Two administrations listened to Lay

    07/01/2002 9:23:20 PM PDT · by Republican_Strategist · 10 replies · 669+ views
    The Washington Times ^ | May 7, 2002 | Patrice Hill
    <p>Hoping to fulfill the energy giant's biggest ambition to create a nationwide electricity market, former Enron Chairman Kenneth Lay played a part in getting President Clinton to propose a power deregulation bill, internal Enron documents show.</p> <p>Mr. Clinton sent the bill to Congress within weeks of receiving a Feb. 20, 1998, letter from Mr. Lay, obtained by The Washington Times, urging him to get personally involved because Congress appeared ready to act on legislation promoting competition and consumer choice in electricity.</p>
  • Three British bankers charged with Enron fraud

    06/27/2002 4:21:52 PM PDT · by grimalkin · 3 replies · 294+ views
    Ananova ^ | Friday 28th June 2002 | Ananova
    The US Justice Department has charged three former British bankers with wire fraud in an alleged £5 million scheme involving Enron. The three former employees of National Westminster Bank - Gary Mulgrew, Giles Darby and David John Bermingham - have been charged in a criminal complaint filed in Houston. The complaint, filed by the Justice Department's Enron taskforce, alleges that the former bank officers secretly invested in an Enron entity, Southampton LP, through a series of financial transactions. With the secret investments, the bankers were able to siphon off £5 million in income that belonged to their employer, the Justice...