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Former Enron Treasurer Targeted by Government Probe

Dec 30, 2002 | Wall Street Journal

A potentially central figure in the Enron Corp. scandal, former Treasurer Ben Glisan Jr., said in a court filing that he is a subject of the Justice Department's continuing criminal investigation into the energy company's collapse, Monday's Wall Street Journal reported.

Federal investigators and others have long viewed Mr. Glisan as a significant figure in the Enron saga, and an important information source, because of his closeness to some of the Houston company's most controversial deals and individuals. An accountant by training and widely viewed as one of the company's brightest executives, Mr. Glisan was a top lieutenant of former Chief Financial Officer Andrew Fastow.

Mr. Glisan helped set up some partnerships that were supposedly independent of Enron but were run and partly owned by Mr. Fastow and another company executive, Michael Kopper. Enron has acknowledged that these partnerships allowed it to improperly book hundreds of millions of dollars of income. Public attention to the partnerships pushed Enron into filing for bankruptcy-court protection last December.

For months, a Justice Department task force has been looking for evidence of criminal conduct at Enron. Mr. Fastow, for example, is under indictment in Houston federal court, charged with a variety of crimes in connection with the partnerships. He has denied guilt and awaits trial.

Mr. Glisan's filing was made last week in a Houston federal court in connection with the Justice Department's effort to seize a brokerage-firm account belonging to him and his wife that contains about $900,000. The government contends this account, along with several similar accounts held by other former Enron officials, contains the proceeds of criminal activity. The Justice Department filed the forfeiture action in October after Mr. Kopper, a close associate of Messrs. Fastow and Glisan, pleaded guilty to conspiracy to defraud Enron and its shareholders in connection with some of the partnership activities.

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