Latest
Enron
& Related Newswire
7/5/2006 11:04:00 PM | Lay May Have Deceived Himself as Much as Everyone Else 
=(0) As the reality of Ken Lay's death is sinking in, the business editorials are coming out with post mortems. This one, in the Washington Post, roughly outlines the path Lay took to the top, and then down again. It tries to put a human face on someone widely reviled without absolving him of responsibility for what has been judged criminal behavior. &n...
Read More
7/5/2006 7:04:00 PM | Lay's estate bereft of past riches =(0) The Times newspaper in the UK reports that Enron investors who are pursuing a class action lawsuit may not find it worthwhile to go after Kay Lay's estate now that he has died. The lead plaintiffs, the Regents of the University of California, are expected to meet soon to decide whether to remove Lay as a defendant in their suit to try to reco...
Read More
7/5/2006 5:26:00 PM | Lay's Death Viewed as Cautionary Tale of Catastrophic Stress =(0) From a medical point of view, Ken Lay's death, if confirmed to be due to heart disease, was not surprising. Uncontrollable, devastating life events are known to be risk factors for sudden cardiac death. They can bring on ventricular fibrillation followed by cardiac arrest, or cause an artery to close up or plaque (chunk of cholesterol) to brea...
Read More
7/5/2006 12:45:00 PM | Enron founder Lay dies of heart attack =(0) Ken Lay's story is over, even as Enron's continues to emerge. The Chairman and founder of Enron died suddenly of a suspected heart attack Wednesday morning in Colorado. Although convicted of fraud and conspiracy, he was free pending sentencing which was to take place in October. Considering his age, 64, and the potential sentence, it was ...
Read More
6/28/2006 1:51:00 AM | British Bankers May Face Enron Trial in US =(0) Three British bankers are to be sent to the US to face trial on fraud charges relating to Enron dealings. The bankers fought their extradition all the way up to the European Court of Human Rights, but failed. Allegations were that they cheated their employer, a unit of the Royal Bank of Scotland, of over $7 million by fraudulent business ...
Read More
6/26/2006 9:18:00 PM | Enron to Pay City $3.28M Over Lawsuit =(0) The City of Tacoma Washington will benefit from a $3.28 million settlement with the Enron estate, to resolve claims it manipulated energy markets in the western US between 1997 and 2003. Fraudulent Enron activity resulted in excess energy charges for consumers, according to utility companies. The agreement must be approved by the Federal ...
Read More
6/23/2006 7:20:00 PM | Bolivia says to sue ex-Enron execs for fraud =(0) The Government of Bolivia has joined the masses of litigants who claim they were defrauded by Enron. It is suing some Bolivian government officials and some Enron executives over alleged bribes and illegal profits concerning a natural gas pipeline project from Bolivia to Brazil....
Read More
6/21/2006 3:18:00 AM | Skilling asks judge for new Enron trial =(0) Jeffrey Skilling, one of the Enron executives recently convicted of fraud, conspiracy and insider trading, has asked for a new trial on the grounds that the evidence against him is "legally insufficient". Skilling currently awaits sentencing, which was recently moved from Sept. 11 to Oct. 23 because of scheduling problems. It is expected...
Read More
6/19/2006 9:41:00 AM | Sentencing for Lay, Skilling in Enron fraud trial delayed =(0) Sentencing for Enron executives Lay and Skilling has been rescheduled from September 11 to October 23, 2006 by US District Judge Sim Lake. Lay and Skilling were convicted last month of various fraud and conspiracy charges, and Skilling, of insider trading as well, in regard to the Enron debacle. ...
Read More
6/14/2006 4:11:00 PM | Lead Plaintiffs in Enron Shareholder Suit Oppose V&E's Summary ... =(0) Plaintiffs in a class action lawsuit by Enron shareholders do not intend to let law firm Vinson & Elkins off the hook. The law firm had filed a motion for summary judgement in April, and the plaintiffs responded with a 281 page document outlining their objections. They contend the law firm made a variety of false statements in order to mi...
Read More
6/14/2006 7:05:00 AM | Settlement: $290 Million: Williams agrees to deal with investors =(0) Williams Cos. will avoid a trial with a $290 million settlement in a class action lawsuit by shareholders. Those who bought Williams stock between July 2000 and July 2002 will recover some of their losses incurred when the stock declined. The allegations involved misleading statements concerning a debt Williams guaranteed for one of its u...
Read More
6/2/2006 1:03:00 PM | Vinson & Elkins settles with Enron for $30 million =(0) A Houston law firm has settled a dispute with Enron's bankruptcy estate and will pay $30 million to avoid a lawsuit over its alleged role in the Enron debacle. However the law firm is not completely off the hook, as it is still one of the defendants in a lawsuit by Enron shareholders. Some banks have settled with Enron in similar fashion,...
Read More
5/26/2006 1:05:00 AM | Not Many Lay, Skilling Sympathizers Out Here =(0) Enron executives Lay and Skilling may have been convicted of fraud and conspiracy, but those charges were not directly related to their role in the California energy crisis. Still, those affected are pleased with the verdict. Enron did settle with California for $1.5 billion, but since they are bankrupt it's unclear how much compensation California...
Read More
5/25/2006 8:07:00 PM | Jury Convicts Enron Executives =(0) The jury is in, for the trial of Kenneth Lay and Jeffrey Skilling. Lay was found guilty of fraud and conspiracy on all six counts charged, and faces as much as 45 years in prison. Skilling was convicted on 19 of 28 counts, innocent only on some counts of insider trading. Pending sentencing, they remain at large, on bond....
Read More
5/25/2006 4:01:00 AM | Judge approves CIBC's Enron settlement =(0) One more settlement in the Enron affair has been finalized. Three banks - J.P. Morgan Chase, Citigroup, and CIBC will pay a combined total of $6.6 billion for claims they cooperated with the Enron fraud. The total settlement fund now stands at over $7 billion, with interest....
Read More
3/28/2006 10:10:00 PM | Enron prosecutors conclude their case =(0) The prosecution finished presenting its case in the trial of Jeffrey Skilling and Kenneth Lay. The last day of testimony concerned some transactions that were troubling to the witness, Joanne Cortez, a credit manager at Enron. Mr. Lay was allegedly selling his stock back to the company in order to repay credit lines, and then borrowing again and re...
Read More
3/28/2006 11:55:00 AM | Former Enron employees settle earnings manipulation charges - =(0) Two former Enron employees, a lawyer and an accountant, settled a lawsuit with the SEC by agreeing to pay a fine without admitting or denying guilt. Both are barred from practicing in a public company for a number of years. The total $60,000 fine will go into a fund for Enron shareholders. The fraud involved bookkeeping manipulations....
Read More
3/28/2006 12:57:00 AM | US Says It Found Problems in Enron Bankruptcy Billing - =(0) The company in charge of administering Enron's bankruptcy is itself accused of overbilling the Justice Department for its services. The firm, Kroll Zolfo Cooper, has offered to cut its $25 million fee in half, but the judge in the bankrupcy court will ultimately determine the fee....
Read More
3/27/2006 10:02:00 PM | Lay Faces a Second Trial, Alone =(0) Enron's founder, Kenneth Lay, faces more criminal charges after his current trial wraps up. Once the jury in the present case begins deliberations, another trial will commence. This one concerns Lay's personal finances and allegedly fraudulent bank loan practices. The dual trials are a result of some legal manipulations that did not work out in fav...
Read More