Former Enron Chief Indicted
Former Enron Chief Was Indicted By Grand Jury. Former Enron chairman Kenneth Lay was indicted Wednesday by a federal grand jury in Houston, a milestone in the Justice Departmen's 2½-year investigation into a fraud that devastated what was once the nation's seventh-largest company. The indictment of Enron's former top executive is … [Read more...] about Former Enron Chief Indicted
Former Enron CEO Skilling Surrenders
Former Enron CEO Surrendered To The FBI. Jeffrey Skilling, the former Enron chief executive who resigned less than four months before the company shattered in scandal, surrendered Thursday to the FBI and was taken in handcuffs to a federal courthouse to face criminal charges related to the company's collapse. Flanked by a pair of … [Read more...] about Former Enron CEO Skilling Surrenders
Six Banks Knew Their Enron Deals Were Funky
Banks Knew Enron Deals Were Funky. Six Wall Street banks knew their financial deals with Enron, before its downfall, were illegal, and the banks "aided and abetted" Enron's former executives, alleges a report released Monday in Enron's bankruptcy case. Citigroup, J.P. Morgan Chase, Barclays, BT/Deutsche, CIBC and Merrill Lynch … [Read more...] about Six Banks Knew Their Enron Deals Were Funky
At Enron, the Compensation Kept Paying
Enron Array of Maneuvers. Last week's congressional report on Enron lays out an amazing array of maneuvers that the failed energy giant used to reduce or eliminate its taxes. But perhaps the most amazing revelation is its use of executive compensation. Not only did the company manage to pay its executives some 200 of them $1.4 … [Read more...] about At Enron, the Compensation Kept Paying
Enron Smashes Record For Bankruptcy Fees
Enron Record For Bankruptcy. One year after declaring bankruptcy, Enron remains months away from completing its reorganization, while continuing to burn cash at a record rate on fees for lawyers and professionals. Instead of the slimmed-down profitable company promised by its now-sacked leadership, Enron is still sorting through … [Read more...] about Enron Smashes Record For Bankruptcy Fees
Probes Proceeding On Several Fronts
Enron Probes Proceeds. Bulging boxes holding thousands of Enron documents line the walls four high in the offices of the Energy Task Force on the 18th floor of a downtown building leased to the California Attorney General’s Office. … [Read more...] about Probes Proceeding On Several Fronts
Enron Bondholders To Get $8 Million
Enron Bondholders Turned Over To SEC. Enron Corp. bondholders will receive $8 million that was turned over to the Securities and Exchange Commission by former company executive Michael Kopper under an agreement between the agency and company's creditors. The compromise, which awaits approval next week by U.S. Bankruptcy Judge … [Read more...] about Enron Bondholders To Get $8 Million
Senators Chide The SEC On Enron
Enron Corp. Collapse. Bipartisan congressional investigators have blamed the Securities and Exchange Commission, stock analysts and credit rating agencies for "a systemic and arguably catastrophic failure" that contributed to the collapse of the Enron Corp. The top Democratic and Republican members of the Senate Governmental … [Read more...] about Senators Chide The SEC On Enron
Enron Ex-Chief Financial Officer Charged
Enron Ex-Chief Was Charged With Defrauding. Andrew S. Fastow, Enron's former chief financial officer, was charged yesterday with defrauding investors and employees through a scheme that enriched himself and led to the energy giant's devastating fall. In a criminal complaint, federal authorities accused Fastow of setting … [Read more...] about Enron Ex-Chief Financial Officer Charged
The First Enron Guilty Plea
Enron Guilty Plea Marks a Turn In The Investigation. The guilty plea by former Enron financial executive Michael Kopper on Wednesday marks a significant turn in the investigation of a company that has come to represent everything that corporate America shouldn't be. This is the company whose bankruptcy - caused by some of the crimes … [Read more...] about The First Enron Guilty Plea
Enron to Make 3 Execs Available
Enron Officers Available For Deposition. Enron Corp. on Wednesday agreed to make three company officers available for deposition by a group of insurance companies and J.P. Morgan Chase & Co. over a series of controversial oil and gas trades, according to lawyers involved in the negotiation. The officers are Raymond Bowen, … [Read more...] about Enron to Make 3 Execs Available
Report: Enron, Merrill Lynch In Sham Power Deal
Enron And Merrill Lynch Sham Power Deal. Enron Corp. and its banker, financial services giant Merrill Lynch & Co. Inc., hastily contrived a complex deal of energy trades that enabled Enron to meet profit expectations in late 1999, triggered significant bonuses for Enron executives and earned Merrill Lynch dlrs 8 million … [Read more...] about Report: Enron, Merrill Lynch In Sham Power Deal
