December 17, 2002 |
Five years before Enron Corp. collapsed in a big accounting scandal, an executive joked at a party about making "a kazillion dollars" through something he humorously dubbed "hypothetical future value accounting," the Houston Chronicle reported Monday. Videotaped jokes by some former Enron executives at a January 1997 party bear ironic parallels to events that helped bring down the energy conglomerate, the newspaper said.
December 2, 2002 |
Ron Cohen has some advice for Andrew S. Fastow should Enron Corp.'s former chief financial officer land in jail: "Get humble real quick." Cohen knows what he's talking about. A convicted stock swindler, he has done four stints in federal prison -- almost 11 years in all. Nowadays, Cohen, 56, is trying to make his crimes pay: He runs Client Advisory Group Inc., a Dallas consulting business that prepares white-collar convicts for their stay behind bars. Business has been looking up lately.
August 27, 2002 |
Enron Corp.'s creditors filed a lawsuit in U.S. Bankruptcy Court seeking $12 million that former executive Michael J. Kopper has agreed to turn over to the government. Kopper pleaded guilty last week to fraud and money-laundering charges and agreed to surrender $12 million he admitted to obtaining illegally. Enron's LJM2 Capital unit, which Kopper managed, controls about $4 million of the total.
March 2, 2002 |
Former Enron Corp. Chief Executive Jeffrey K. Skilling fired back Friday at congressional leaders who have questioned his honesty and integrity. In a letter to leaders of the House Energy and Commerce Committee, Skilling accused lawmakers of using taxpayer money to subsidize a public relations effort at his expense. "It has become clear ...
June 7, 2004 |
Two former Enron Corp. executives and four onetime Merrill Lynch & Co. bankers are scheduled to go on trial in Houston today, in the first criminal fraud case stemming from the collapse of the energy giant. Opening statements are expected Tuesday. The six are accused of helping push through a sham sale so that the energy firm would appear to have met earnings targets. The Justice Department's biggest cooperating witness in the probe, former Enron Chief Financial Officer Andrew S.
September 23, 2004 |
A former Enron Corp. executive's account of a confrontation over an alleged sham sale of three barges to Merrill Lynch & Co. was never documented or reported to her superiors, she testified Wednesday. But Amanda Colpean said she was ordered by a colleague to lie about the transaction and manipulate documents so that the sale appeared to be legitimate -- and Enron could satisfy its auditors. Colpean and 10 other Enron executives signed off on the paperwork.
February 22, 2006 |
Former Enron Corp. Chairman Kenneth L. Lay lied about the company's precarious financial health in the weeks leading up to its 2001 bankruptcy filing even after learning it had no access to new sources of cash, a former investor relations executive said Tuesday in the first testimony to directly link Lay to fraud at Enron. The testimony of Paula Rieker came in the fourth week of the fraud and conspiracy trial of Lay and former Chief Executive Jeffrey K. Skilling in Houston.
March 29, 2007 |
The Securities and Exchange Commission charged two former in-house attorneys at Enron Corp. with civil securities fraud Wednesday as the agency continued to unravel a web of complex transactions and alleged corporate deception more than five years after the once highflying energy company collapsed into bankruptcy.
May 4, 2006 |
Defense lawyers for Kenneth L. Lay and Jeffrey K. Skilling questioned two accounting experts Wednesday in an effort to show that Enron Corp. never falsified its books. Prosecutors have contended that Enron, under the leadership of company founder Lay and then-Chief Executive Skilling, overvalued its assets and used improper "cookie jar" cash reserves to smooth out earnings.
April 22, 2005 |
Two former Merrill Lynch & Co. executives convicted in Enron Corp.'s bogus sale of power barges to the brokerage were sentenced Thursday to prison terms far shorter than the punishment sought by the government. James A. Brown, former head of the brokerage's asset lease group, was sentenced to three years and 10 months in prison and a year's probation. Daniel Bayly, former head of investment banking for Merrill Lynch, was sentenced to 2 1/2 years incarceration and six months probation.