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John M Forney

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BUSINESS
June 4, 2003 | Nancy Rivera Brooks, Times Staff Writer
The FBI arrested former Enron Corp. trader John M. Forney at his Ohio office Tuesday, saying he was a key architect of the electricity-trading schemes blamed for worsening California's energy crisis in 2000 and 2001. Forney, 41, was charged with a single count each of wire fraud and conspiracy. He is the third Enron trader accused by the Justice Department of criminal manipulation of Western energy markets but the first who did not reach a plea agreement -- leading to Tuesday's arrest.
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BUSINESS
June 4, 2003 | Nancy Rivera Brooks, Times Staff Writer
The FBI arrested former Enron Corp. trader John M. Forney at his Ohio office Tuesday, saying he was a key architect of the electricity-trading schemes blamed for worsening California's energy crisis in 2000 and 2001. Forney, 41, was charged with a single count each of wire fraud and conspiracy. He is the third Enron trader accused by the Justice Department of criminal manipulation of Western energy markets but the first who did not reach a plea agreement -- leading to Tuesday's arrest.
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BUSINESS
September 12, 2003 | From Bloomberg News
Former Enron Corp. trading manager John M. Forney, who prosecutors say was the architect of schemes to manipulate California power prices, is in "preliminary" plea negotiations with the United States. Assistant U.S. Atty. Matt Jacobs told a federal judge Thursday in San Francisco that the government has "engaged in some preliminary conversations to resolve" the criminal case against Forney, who was charged with wire fraud and conspiracy in June.
BUSINESS
June 10, 2003 | From Associated Press
A former Enron Corp. executive has agreed to return to California to face charges that he manipulated the state's energy market, leading to rolling blackouts. John M. Forney waived his right to a hearing Monday in U.S. District Court in Columbus where a magistrate had been expected to confirm his identity as the person named in a federal complaint and order his return to San Francisco. "He's not fighting it," said Fred Alverson, a spokesman for the U.S. attorney in Columbus.
BUSINESS
May 28, 2004 | From Bloomberg News
Enron Corp., which owes creditors more than $67 billion, has sued a defunct California power agency, seeking the return of a $136-million deposit the Houston-based energy giant had made in order to trade energy in the state. Enron, which filed for bankruptcy protection in December 2001, had pledged the money as collateral in order to trade energy on the California Power Exchange.
BUSINESS
August 14, 2003 | Nancy Rivera Brooks, Times Staff Writer
Reliant Resources Inc., a power producer and energy trader accused of manipulating California electricity and natural gas markets, said Wednesday that it received more subpoenas as part of a criminal probe by the Justice Department.
BUSINESS
December 30, 2003 | From Associated Press
First came Enron Corp.'s scandalous collapse. Then came the crackdowns. Now come the trials. The Enron saga has brought the infamous and the unknown to court in handcuffs as the Justice Department continues a multilayered probe into what brought down the highflying energy company, which filed for Chapter 11 bankruptcy protection in December 2001. The two top executives, former Chairman Kenneth L. Lay and former Chief Executive Jeffrey K. Skilling, had not been charged as the investigation passed the two-year mark.
BUSINESS
June 6, 2003 | Nancy Rivera Brooks, Times Staff Writer
A federal grand jury indicted former Enron Corp. trader John M. Forney late Thursday, as his lawyers complained that the government improperly hyped Forney's alleged role in the California energy crisis to "garner media fanfare." The jury in San Francisco charged Forney with a single count of conspiracy to commit wire fraud related to an alleged criminal manipulation of California electricity markets from 1999 to 2001, according to federal prosecutors Patrick D. Robbins and Matthew J. Jacobs.
BUSINESS
August 6, 2004 | From Associated Press
A former Enron Corp. trading executive pleaded guilty Thursday to charges he manipulated energy markets during California's power crisis. John M. Forney, 42, of Ohio is the third Enron executive to plead guilty to manipulating electricity prices from Enron's now-defunct trading office in Portland, Ore. The crisis played a role in Pacific Gas & Electric Co.'s bankruptcy filing and will leave California consumers paying abnormally high electricity prices for years.
BUSINESS
June 18, 2004 | Jonathan Peterson and Dawn Wotapka, Times Staff Writers
The uproar over tapes in which Enron Corp. energy traders bragged of exploiting "Grandma Millie" and other Californians intensified Thursday as state Atty. Gen. Bill Lockyer sued the disgraced company and U.S. regulators said they would review the new evidence of market manipulation. "We want our money back.
BUSINESS
April 8, 2006 | Jonathan Peterson, Times Staff Writer
At the peak of the California energy crisis, Mary C. Hain was a lawyer at Enron Corp.'s Portland, Ore., trading hub, where she had a front-row view of practices that injected chaos into electricity markets and sent rates soaring. She once scribbled: "Answer questions, say nothing. Answer questions, finger others." Those notes from October 2000 were reviewed later by investigators looking into market gaming among the energy traders whom she advised on legal matters.
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