Timeline Enron Corp.
Return to home
Apr 15, Kenneth Lay, the son of a Baptist minister,
was born. He grew up in Rush, Missouri, and in 1986 became the CEO of
Texas-based Enron Corp.
(SSFC, 2/3/02, p.A19)
1985 Chuck Watson, former Conoco
executive, led Natural Gas Clearinghouse in a joint venture that grew
to become Dynegy Corp. In 1995 the company began trading electricity
and acquired a listing on the NY stock exchange. Watson stepped down in
2002 in the wake of the Enron scandal.
(WSJ, 5/29/02, p.A1)
1985 Texas-based Enron Corp. was
formed when Houston Natural Gas combined with InterNorth Inc., a
gas-pipeline company. Kenneth Lay (1942-2006) was named chairman and
CEO in 1986. Enron filed for bankruptcy in 2001.
(NW, 12/10/01, p.50)(SFC, 1/24/02, p.A1)(SSFC,
1986 Kenneth Lay, founder of Enron
Corp. (1985), served as chairman and CEO until he stepped down in 2001.
(Econ, 1/28/06, p.61)
1992 India’s central government
approved a foreign owned power project. Enron Corp. was contracted to
build the Dabhol Power Co. in Maharashtra state.
(WSJ, 2/5/99, p.A1)
1993 Enron Corp. persuaded the SEC
to grant it an exemption from the depression-era Public Utility Holding
Company Act that prevented utilities from diversifying into unrelated
(SSFC, 2/24/02, p.D1)
1997 Nov 5, The Enron executive
committee approved several hundred million in loan guarantees for a new
partnership named Chewbacca, to be partly owned and run independently
by Enron executive Michael Kopper. This set a pattern for transactions
that inflated earnings and kept debt hidden.
(WSJ, 2/1/02, p.A1)
1997 Jeffrey Skilling became
Enron’s chief operating officer, reporting to Kenneth Lay, until he
replaced Mr. Lay as CEO in 2001.
(Econ, 1/28/06, p.61)
1997 Enron won exemption from the
Investment Company Act of 1940 which allowed it to leave debt from
foreign power plants off its books.
(SSFC, 2/24/02, p.D1)
1997 Enron formed New Power
Holdings to take advantage of the imminent opening to competition of
retail electricity markets around the US.
(WSJ, 3/25/02, p.A1)
1998 Mar, Steven Stoft, an
economist for FERC, warned that California’s deregulated energy market
could be manipulated be energy generators.
(SSFC, 5/19/02, p.A7)
1999 May 24, Enron Corp. scheduled
thousands of megawatts through the tiny Silver peak transmission line
in Southern California and drove up energy prices 71%.
(SSFC, 11/17/02, p.A1)
1999 Jun, Enron Corp. announced a
20-year power purchase agreement with the Palestinian Energy Authority.
A $140 million, 136-megawatt power plant in the Gaza Strip was part of
the plan. Work halted in 2000.
(SFC, 3/2/02, p.A9)
2000 Jan 20, Enron Corp. announced
a deal with Sun Microsystems in which it would buy 18,000 computer
servers, just before it released its earnings statement. It was later
learned that at least one Enron partnership removed a hedge to limit
price swings and made a gain of $80-100 million as Enron stock soared.
The sun deal died within 6 months.
(WSJ, 2/15/02, p.C1)
2000 Jan, In 2004 accounting
records from a Washington state energy case detailed how Enron traders
manipulated the Western energy market on 88% of 537 days between Jan
2000 and June 2001 reaping profits of $1.1 billion.
(SFC, 6/15/04, p.E1)
2000 Jun 13, Temperatures in
Oakland hit 95 degrees and broke a 1983 record by 7 degrees.
(SFC, 6/14/00, p.A1)
2000 Jun 14, Some 100,000 SF Bay
Area residents experienced rolling blackouts.
(SFC, 6/15/04, p.A11)
2000 Aug 8, Audiotapes recorded
Enron traders deliberately congesting Western power lines: “If you can
congest it, that’s a moneymaker no matter what.”
(SFC, 6/15/04, p.A1)
2000 Aug 23, Pres. Clinton ordered
millions in relief funds for electricity users in southern California
and an investigation into the state’s power market.
(SFC, 8/24/00, p.A1)
2000 Oct 6, New Power Holdings, an
IPO launched by Enron, climbed 29% to close at $27. In 2002 it was sold
to a British energy firm for $1.05 per share.
(WSJ, 3/25/02, p.A1)
2000 Dec 8, The Federal Energy
Regulatory Commission (FERC) lifted California’s $250 per megawatt-hour
price cap and prices skyrocketed. Enron Corp. issued internal
memorandums that its schemes to boost profits had nearly caused the
lights to go out in California.
(SSFC, 2/4/01, p.A18)(SFC, 5/10/02, p.A1)
2000 Dec 11, PG&E warned that
it could soon run out of money due to high power demands and lack of
(SFC, 12/12/00, p.A1)
2000 Dec 13, The US energy
secretary exercised emergency authority and ordered 12 generating
companies to sell power to California.
(SFC, 12/14/00, p.A1)
2000 Dec, Enron lawyers warned
company executives that some of the California electricity trading
practices were deceptive and possibly illegal.
(SFC, 5/16/02, p.A1)
2000-2001 Enron made almost $1 billion off of
California’s energy crises during this period. In 2006 Timothy Belden,
the architect of Enron’s market manipulation schemes, said the profits
came during the 9 months at the height of the crisis. He admitted to
shipping power out of California and then selling it back, creating the
appearance of a shortage, and jacking up prices.
(SFC, 3/2/06, p.C1)
2001 Jan 5, Southern California
Edison announced plans to cut 1,450 jobs to save $465 million due to
high power costs.
(SFC, 1/6/01, p.A1)
2001 Jan 8, Gov. Davis offered a
series of proposals to resolve the state energy crises. These included
efficiency incentives, use cutbacks and power generation capacity
(SFC, 1/9/01, p.A1)
2001 Jan 14, It was reported that
power generators in California were suspected of shutting down power
plants to sell high-valued natural gas contributing to high costs and
(SSFC, 1/14/01, p.A1)
2001 Jan 16, Southern California
Edison said it would not be able to pay its outstanding bills. PG&E
said it was days away from a default.
(SFC, 1/17/01, p.A1)
2001 Jan 17, Gov. Davis declared a
state of emergency and ordered the Dept. of Water Resources to buy and
sell electricity to help alleviate the crises. PG&E defaulted on
$76 million in short term debt.
(SFC, 1/18/01, p.A1)
2001 Jan 18, The state legislature
signed a $400 million energy rescue measure as Pres.-elect Bush
rejected electricity price caps sought by Gov. Davis.
(SFC, 1/19/01, p.A1)
2001 Jan 18, SF sued 13 energy
providers for collusion to fix prices and restrict the energy supply.
(SFC, 1/19/01, p.A12)
2001 Jan 23, Spencer Abraham,
energy secretary, extended 2 federal emergency orders forcing power
suppliers to continue selling electricity and natural gas to California.
(SFC, 1/24/01, p.A1)
2001 Jan 24, In California the
state received bids for long-term electricity contracts in an auction
to help ease the energy crises.
(SFC, 1/25/01, p.A1)
2001 Feb 1, State lawmakers
enacted legislation to spend up to $10 billion for power. Gov. Davis
ordered large retail outlets to dim lights with penalties beginning Mar
(SFC, 2/2/01, p.A1)
2001 Feb 2, Mexico agreed to sell
a small amount of power to California. The Bush administration refused
to impose energy price caps despite pleas by Western governors.
(SFC, 2/3/01, p.A3,8)
2001 Feb 5, California clinched
deals for long term power contracts at $60-65 per megawatt hour as
federal assistance ended.
(SFC, 2/6/01, p.A1)
2001 Feb 11, It was reported that
the state PUC filed law suits against El Paso Natural Gas Co. for
restricting competition in the natural gas market.
(SSFC, 2/11/01, p.A11)
2001 Feb 16, Gov. Davis began
negotiations to purchase 32,000 miles of transmission lines from the
utilities that would allow them to issue bonds to pay off their debt.
(SFC, 2/17/01, p.A1)
2001 Feb 22, The state PUC voted
to absolve PG&E and Southern California Edison of responsibility
for costs above the revenue they collect from ratepayers.
(SFC, 2/23/01, p.A3)
2001 Mar 9, Federal regulators
warned power companies that they may have to refund $69 million to
California ratepayers for charging unreasonable prices.
(SFC, 3/10/01, p.A1)
2001 Mar 11, It was reported that
California’s alleged growth of electricity use was significantly less
than that portrayed by power industry.
(SSFC, 3/11/01, p.A1)
2001 Mar 19, Rolling power
blackouts hit California as alternative power generators shut down due
to nonpayment by PG&E and Southern California Edison.
(SFC, 3/20/01, p.A1)
2001 Mar 20, Rolling blackouts
continued for a 2nd day. PG&E and Edison called for an end to the
rate freeze to accompany the sale of transmission lines.
(SFC, 3/21/01, p.A1)
2001 Mar 26, California state
regulators proposed a 40% rate increase to help remedy the state’s
(SFC, 3/27/01, p.A1)
2001 Mar 27, The state PUC voted
an average monthly 40% energy rate increase.
(SFC, 3/28/01, p.A1)
2001 Apr 6, In California PG&E
filed for bankruptcy with $9 billion in debt. Just before filing the
utility awarded bonuses and raises to 6,000 senior managers and other
employees. SF Judge Dennis Montali was assigned the case.
(SFC, 4/7/01, p.A1,3)
2001 Apr 7, Gov. Davis said
“PG&E’s management is suffering from two afflictions: denial and
(SFC, 4/9/01, p.A1)
2001 Apr 9, Gov. Davis and
California Edison agreed to a $2.8 billion bailout deal that included
state possession of 12,000 miles of power lines.
(SFC, 4/10/01, p.A1)
2001 Apr 17, California reported
that daily energy costs had soared to $73.2 million per day.
(SFC, 4/18/01, p.A1)
2001 Apr 25, US federal regulators
voted for a “mitigation” plan to tame wholesale electricity prices in
(SFC, 4/26/01, p.A1)
2001 Apr, Pres. Bush nominated
Thomas White, VP of Enron and former general, to serve as Army
Secretary. White resigned Apr 25, 2003.
(SFC, 4/26/03, A3)
2001 May 7, Rolling blackouts hit
the state following record high temperatures.
(WSJ, 5/8/01, p.A1)
2001 May 8, A 2nd afternoon of
rolling blackouts hit the state.
(SFC, 5/9/01, p.A1)
2001 May 9, It was reported that
El Paso Merchant Energy had crimped space in its desert pipeline and
forced power buyers to pay some $3.8 billion in excess over the past
(SFC, 5/9/01, p.A7)
2001 May 15, In California energy
regulators adopted the highest rate increase in the state’s history.
The residential consumer burden was raised by over $100 million.
(SFC, 5/16/01, p.A1)
2001 May 17, California energy
regulators uncovered evidence that some electrical power companies
repeatedly shut down generating plants for unnecessary maintenance.
(SFC, 5/18/01, p.A1)
2001 May 24, Gov. Davis issued an
executive order requiring one hour’s notice prior to energy blackouts.
(SFC, 5/24/01, p.A1)
2001 May 25, PG&E filed for
permission to award $17.5 million in additional payouts to the
management team that guided the company to bankruptcy.
(SFC, 5/30/01, p.A1)
2001 May 29, Pres. Bush met with
Gov. Davis in California. Bush ruled out federal price controls and
Davis said he would sue to impose controls.
(SFC, 5/30/01, p.A1)
2001 May 30, Gov Davis said he
would use his executive powers to claim excess power from local
utilities if they do not lower their prices to the state.
(SFC, 5/31/01, p.A1)
2001 Jun 11, Gov. Davis wrote an
executive order to ease air pollution standards on power plants to
avoid summer power outages.
(SFC, 6/12/01, p.A1)
2001 Jun 14, It was reported that
FERC planned to impose round-the-clock price restrictions on wholesale
electricity sold to California.
(SFC, 6/14/01, p.A1)
2001 Jun 18, US federal regulators
imposed a price ceiling on Western wholesale electricity prices
effective June 19 to the end of summer.
(SFC, 6/19/01, p.A1)
2001 Jun 22, Former Duke Energy
workers testified that production was ramped up and down at one San
Diego plant to drive up electricity costs.
(SFC, 6/23/01, p.A1)
2001 Aug 14, Jeffrey K. Skilling
stepped down as CEO of Enron Corp. after 6 months in the top job.
(SFC, 2/7/02, p.A8)
2001 Nov 28, Dynegy Corp. called
off its $8.4 billion merger with Enron and Enron stock fell below $1 in
the heaviest single-day trading volume for a NYSE or Nasdaq stock.
Enron Corp. collapsed after Dynegy Inc. backed out of a deal to take it
(SSFC, 1/20/02, p.A18)(AP, 11/28/08)
2001 Nov 30, Enron executives
awarded themselves big bonuses 2 days before the company filed for
bankruptcy (Dec 2). They soon reneged on severance pay promised to
4,500 laid-off employees.
(SFC, 2/6/02, p.A1)
2001 Dec 2, Enron Corp. under CEO
Kenneth Lay filed for bankruptcy. Employee fury in November persuaded
Lay to give up a severance package worth about $60 million.
(SFC, 12/30/01, p.D8)
2001 Dec 3, Enron took steps to
bolster its weak financial footing following its historic bankruptcy
filing, arranging $1.5 billion in financing and slashing 4,000 jobs, or
20 percent of its work force.
2001 In India Enron Corp. and
other investors shut down the Dabhol Power project in Maharashtra state
after the state’s electricity authority fell $240 million behind in
(Econ, 5/1/04, p.66)
2001 In the year prior to
bankruptcy some $681 million was paid to 140 Enron executives. This
included $135 million in restricted stock that vested in 2001.
(WSJ, 6/17/02, p.B1)
2001 Arundhati Roy authored “Power
Politics.” It covered dam development in India and included the role of
Enron Corp. in Maharashtra state projects.
2002 Jan 23, Enron CEO Kenneth Lay
(59) resigned under pressure.
(SFC, 1/23/02, p.A1)
2002 Jan 24, A House committee
opened hearings into the collapse of energy giant Enron Corp. Officials
of Enron's accounting firm, Arthur Andersen, claimed fired auditor
David Duncan was solely responsible for the massive destruction of
Enron documents; Duncan refused to answer questions, invoking the Fifth
2002 Jan 25, A senior House
Democrat called for Thomas White, Sec. of the Army and former Enron
executive, to testify on his role at Enron.
(SFC, 1/26/02, p.A15)
2002 Jan 25, J. Clifford Baxter, a
former Enron vice-chairman, was found dead of apparent suicide in Sugar
Land, a Houston suburb. He had reportedly complained about the
company's questionable accounting practices.
(SFC, 1/26/02, p.A1)(SFC, 4/12/02, p.A14)(AP,
2002 Feb 1, President George W.
Bush responded to the collapse of Enron by proposing regulation reforms
of 401(k) retirement plans. Justice Department investigators directed
Bush's staff to preserve the paper trail of any contact with Enron. The
US Justice Dept. asked the president’s staff for all Enron-related
documents back to Jan 1, 1999.
(AP, 2/1/03)(SFC, 2/2/02, p.A1)
2002 Feb 4, Former Enron chairman
and chief executive Kenneth Lay resigned from the board, cutting his
last tie to the company beyond stock ownership.
2002 Feb 5, Committees in both the
House and Senate decided to subpoena former Enron Chairman Kenneth Lay
to appear to tell what he knew of Enron's complex financial dealings.
(Lay did appear, but refused to testify, citing his Fifth Amendment
rights.) At a Senate hearing, Deborah Perrotta, a laid-off Enron
employee, wept as she described how her retirement savings all but
disappeared when the company failed.
2002 Feb 12, Kenneth Lay, former
Enron CEO, pleaded the 5th amendment before a Senate panel
investigation of the Enron demise. Lay expressed "profound sadness"
about the collapse of the energy giant, but refused to testify at a
(SFC, 2/12/02, p.A1)(AP, 2/11/03)
2002 Feb 14, Sharon Watkins, Enron
Vice President, testified that Jeffrey Skilling was behind the
accounting that led to the company’s bankruptcy and that CEO Kenneth
Lay was probably duped by his executives and was unaware of the depth
of Enron’s problems.
(SFC, 2/15/02, p.A1)
2002 Mar 20, Arthur Andersen
pleaded innocent to charges it had shredded documents and deleted
computer files related to Enron. Andersen was later found guilty of
obstruction of justice; it received probation and was fined $500,000.
2002 Mar 26, Joseph Berardino, CEO
of Arthur Anderson, resigned over the Enron fallout.
(WSJ, 3/27/02, p.C1)
2002 Apr 7, Arthur Andersen
announced it would lay off more than a quarter of its US workforce, a
direct result of Enron filing for bankruptcy in the fall of 2001.
2002 Apr 9, Former Arthur Andersen
auditor David B. Duncan pleaded guilty in federal court in Houston to
ordering the shredding of Enron documents, and agreed to cooperate with
prosecutors. Duncan later withdrew his plea.
2002 Apr 10, Arthur Anderson LLP
agreed to a government condition that it admit to having committed a
crime by destroying Enron documents last fall.
(SFC, 4/11/02, p.A1)
2002 Apr 11, The US House
responded to the Enron collapse by voting to add more worker
protections to pension laws.
2002 Apr 19, Jeffrey McMahon,
president and COO, resigned over pressure from creditors.
(SFC, 4/20/02, p.A6)
2002 May 6, Federal regulators
released documents that showed Enron Corp. had manipulated the
California power system to increase profits.
(WSJ, 5/7/02, p.A1)
2002 Jun 15, Arthur Andersen was
convicted of obstructing justice by shredding Enron-related documents
in a verdict that boosted prosecutors' efforts to get to the bottom of
the Enron scandal. In 2005 the US Supreme Court overturned the
(AP, 6/14/02)(SSFC, 6/16/02, p.A1)(WSJ, 6/17/02,
p.A1)(WSJ, 6/1/05, p.A1)
2002 Jul 12, The US Senate adopted
a ban on personal loans from companies to their top officials, a
practice that had benefited executives from Enron to WorldCom.
2002 Jul 18, US Army Sec. Thomas
White defended his sale of $12 million in Enron stock before the
company went bust. Records showed that he had made 77 phone calls to
Enron in the 10 months ending Feb 2002.
(SFC, 7/19/02, p.A3)
2002 Aug 21, Michael Kopper,
former Enron financial executive, pleaded guilty to charges related to
wire fraud and money laundering. He admitted to large kickbacks to the
CFO, Andrew Fastow, and agreed to return $12 million.
(SFC, 8/21/02, p.A1)(SFC, 8/22/02, p.A1)
2002 Oct 2, Andrew Fastow (40),
the former chief financial officer of Enron Corp. was charged with
securities, wire and mail fraud, money laundering and conspiring to
inflate Enron's profits and enrich himself at the company’s expense. On
Sep 26, 2006, Fastow was sentenced to 6 years in prison.
(AP, 10/2/02)(SFC, 9/27/06, p.C1)
2002 Oct 17, Timothy Belden,
former Enron executive, pleaded guilty to conspiracy and agreed to
cooperate with federal prosecutors. Belden admitted to giving grid
operators false information and shipping power from within California
out of state and selling it back at higher prices.
(SFC, 10/18/02, p.A1)
2002 Dec 22, Time magazine named
Coleen Rowley, Cynthia Cooper and Sherron Watkins as Persons of the
Year for their whistle-blowing efforts against the FBI, WorldCom and
(SFC, 12/23/02, p.A2)
2002 Brian Cruver authored
“Anatomy of Greed: The Unshredded Truth About Enron.”
(SFC, 1/4/03, p.D1)
2003 Jun 3, Federal prosecutors
charged John M. Forney, a former Enron energy trader, with criminal
conspiracy and wire fraud.
(WSJ, 6/4/03, p.B5)
2003 Jul 28, J.P. Morgan Chase
& Co. agreed to pay $305 million to settle actions related to loans
and trades made with Enron Corp. and Dynegy Inc.
(WSJ, 7/28/03, p.A1)
2003 Aug 19, Royal Bank of Canada
said it would get $195 million plus interest from Enron Corp. and
others in a settlement agreement related to the sale of 11.5 million
common shares of EOG Resources.
2003 Sep 10, Ben Glisan, former
Enron treasurer, pleaded guilty to one count of conspiring to commit
fraud and was sentenced to 5 years in federal prison.
(WSJ, 9/11/03, p.A3)
2003 Sep 17, Three former
executives of Merrill Lynch & Co. were indicted on fraud charges
related to Enron Corp.
(SFC, 9/18/03, p.B3)
2003 Oct 1, A federal judge in
Texas ruled that former Enron Chairman Kenneth Lay and Northern Trust
Corp., can be sued for allegedly failing to protect the Enron employee
(WSJ, 10/2/03, p.A1)
2003 Dec 31, Neal Batson ended his
tenure as bankruptcy examiner of Enron. The 18-month probe had a final
tab of $90 million. It included lawyer rates of as much as $600 an hour.
(WSJ, 3/18/04, p.C1)
2003 Rebecca Smith and John R.
Emshwiller authored "24 Days," an account of how they uncovered the
complex financial instruments that Enron used to boost profits and hide
(WSJ, 8/7/03, p.C1)
2003 Federal energy regulators
(FERC) validated California claims to 2000-2001 overcharges for energy
and said the state is owed $3.3 billion in refunds from Enron and 5
other energy firms. California called for $9 billion.
(SFC, 3/27/03, p.A1)
2004 Jan 14, Andrew Fastow, former
Enron finance chief, agreed to a 10-year prison sentence and to help
prosecutors build a case against Enron's executive officers. His wife,
former Enron assistant treasurer Lea Fastow (42), received a 5-month
(SFC, 1/15/04, p.B3)
2004 Jan 22, Enron Corporation's
former top accountant, Richard Causey, surrendered to federal
authorities; he pleaded innocent to conspiracy and fraud charges.
2004 Feb 19, Jeffrey Skilling,
former CEO of Enron, pleaded not guilty to 35 felony charges and was
released after posting a $5 million bail.
(SFC, 2/20/04, p.B1)
2004 May 6, Lea Fastow, wife of
former Enron finance chief Andrew Fastow, pleaded guilty to a
misdemeanor charge and was sentenced to one year in prison.
(SFC, 5/7/04, p.C3)
2004 Jul 7, Former Enron chairman
Kenneth Lay was indicted on criminal charges related to the energy
2004 Jul 8, Kenneth Lay, former
CEO of Enron Corp., was charged in Houston, Texas, with 11 counts of
conspiracy and fraud.
(WSJ, 7/8/04, p.A1)(USAT, 7/9/04, p.1B)
2004 Jul 15, Enron won approval to
emerge from bankruptcy under a plan in which creditors would receive
less than 20 cents on the dollar. The Enron name would also disappear.
(SFC, 7/16/04, p.C1)
2004 Aug 5, John Forney (42),
Enron energy trader, pleaded guilty in SF to charges of fraud and
plotting to manipulate the market during the 2000-2001 California
(SFC, 8/6/04, p.A1)
2004 Nov 3, A Houston jury
convicted 4 former Merrill Lynch executives and a former mid-level
Enron Corp, executive for a 1999 bogus sale of power plants off the
coast of Nigeria.
(SFC, 11/4/04, p.C3)
2004 Lynn Brewer authored
“Confessions of an Enron Executive.”
(Econ, 3/25/06, p.67)
2005 Jan 31, US energy officials
said Enron Corp. made over $1.6 billion during the energy crises in 11
Western states from Jan 16, 1997 to June 25, 2003.
(SFC, 2/1/05, p.E1)
2005 Feb 3, According to audio
transcripts and documents unveiled by a public utility north of
Seattle, fallen energy giant Enron Corp. was running scams to drive up
the cost of power years before the 2000-01 West Coast energy crisis.
2005 Jul 15, Bankrupt Enron Corp.
agreed to pay up to 1.52 billion dollars to settle charges of market
manipulation during the energy crisis that hit California and other
western US states in 2000 and 2001.
2005 Aug 16, J.P. Morgan Chase
agreed to pay $350 million to settle claims over the role it played in
the fraud that led to the collapse of Enron in 2001.
(SFC, 8/17/05, p.C3)
2005 Kurt Eichenwald, NY Times
reporter, authored “Conspiracy of Fools,” an account of the Enron saga.
(WSJ, 3/3/05, p.D5)(Econ, 4/16/05, p.73)
2006 May 25, In Texas a jury found
former Enron chiefs Kenneth Lay and Jeffrey Skilling guilty of fraud
and conspiracy in the collapse of the energy giant.
2006 Jun 30, US prosecutors asked
a federal judge to force former Enron chief executives Ken Lay and
Jeffrey Skilling to forfeit $183 million for their crimes at the
collapsed energy company.
2006 Jul 5, Ken Lay (64). Enron
Corp. founder and chief executive, died of a heart attack at his
vacation home in Colorado. He was convicted in May for his role in the
in the Houston-based company's downfall.
2006 Nov 3, Barclays said it will
to pay 144 million dollars to settle litigation arising from the
collapse of US energy trading firm Enron in 2001.
2008 Feb 22, In Texas 3 British
bankers were sentenced to just over three years in prison for their
roles in a fraudulent scheme with former Enron Chief Financial Officer
Andrew Fastow, and they're hoping to serve some of that time back home.
2010 Apr 28, Sempra Energy, the
parent company of San Diego Gas and Electric Co., agreed to pay $410
million to settle claims that it played Enron-style games with
California’s electricity market during the 2000-2001 energy crises.
(SFC, 4/28/10, p.D1)
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Subject = Enron
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