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Pastimes : The California Energy Crisis - Information & Forum
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To: Raymond Duray who wrote (1611)9/12/2003 6:07:41 AM
From: Glenn Petersen   of 1715
 
Ex-Enron Trader in Preliminary Plea Talks

nytimes.com

By BLOOMBERG NEWS

A former trading manager at the Enron Corporation, John M. Forney, who prosecutors say is the architect of schemes to manipulate California power prices, is in preliminary plea negotiations with prosecutors, an assistant United States attorney said yesterday.

The attorney, Matt Jacobs, told a federal judge in San Francisco yesterday that the government was trying to resolve the criminal case against Mr. Forney, who was charged with wire fraud and conspiracy in June.

Mr. Forney's lawyer, Robert Breakstone, referred questions about the talks to Mr. Jacobs.

Mr. Jacobs told Judge Martin Jenkins of United States District Court that he could not say whether a plea agreement would be reached.

Mr. Forney has denied that he did anything criminal. He declined to comment after the hearing.

A federal indictment said Mr. Forney, the former manager of Enron's trading desk in Portland, Ore., created illegal trading strategies intended to evade federally approved price caps on California energy. Mr. Jacobs said in June that Mr. Forney was the "architect of the schemes and had the people who worked for him carry out the schemes."
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