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Non-Tech : The Enron Scandal - Unmoderated -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (2802)	10/30/2003 5:07:59 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 3602

Former Enron Exec Pleads Guilty! story.news.yahoo.com HOUSTON (Reuters) - Former Enron Corp. (Other OTC:ENRNQ - news) executive David Delainey pleaded guilty to insider trading in federal court on Thursday and will cooperate with prosecutors still pursuing the most senior executives at the bankrupt energy trading giant. Delainey, former chief executive of Enron North America and Enron Energy Services who rose rapidly under Jeffrey Skilling's tenure as Enron's chief executive, could face up to 10 years in prison. Sentencing will take place at a later date. The 36-year-old Canadian has agreed to pay $8 million in penalties as part of the guilty plea and settlement of a related civil complaint brought by the Securities and Exchange Commission (news - web sites). Dressed in a dark suit, Delainey shook hands with prosecutors after the plea hearing. U.S. officials charged that Delainey sold stock while aware of Enron's scheme to deceive ordinary investors over its financial statements. He has agreed to forfeit the $4.26 million he gained from sales made in 2000 and 2001. The SEC said Delainey, without admitting or denying its complaint, had agreed to be barred from acting as an officer or director of a public company and to pay a civil penalty of $3.74 million. Enron collapsed two years ago amid disclosures about secret off-balance-sheet partnerships and other schemes that hid losses and enriched executives. Former Enron Treasurer Ben Glisan last month became the first executive sent to prison for his role in Enron's downfall. However, former Enron Chairman Kenneth Lay and Skilling, have not been charged so far.

To: Glenn Petersen who wrote (2802)	11/7/2003 1:04:34 PM
From: Glenn Petersen	Respond to of 3602

Enron's Lay to Turn Over Documents to SEC biz.yahoo.com Friday November 7, 10:45 am ET WASHINGTON (Reuters) - Ex-Enron Corp. (Other OTC:ENRNQ.PK - News) Chairman Kenneth Lay on Friday agreed to turn over, within three days, all documents required by a Securities and Exchange Commission (News - Websites) subpoena he had previously tried to withhold. The SEC can use any of the documents he provides for any law-enforcement purposes, according to an agreement that was finalized in a court order on Friday. "Lay should produce to the SEC within three days after entry of this order all documents requested by the subpoena that he has withheld from the commission on the basis of the Fifth Amendment (right against self-incrimination)," the order read. Lay had been scheduled to appear in federal court in Washington on Friday, following SEC complaints he had not fully complied with a subpoena for the documents. Minutes before the hearing was to begin, the judge issued the order formalizing the agreement between the SEC and Lay's lawyers. Lawyers for Lay have said he has already produced more than 23,000 pages of documents for the SEC's investigation of the Houston-based company, which collapsed in 2001 amid an accounting scandal. Lay had argued the 870 pages of documents he had withheld were personal rather than corporate in nature. He said he wanted to invoke his constitutional Fifth Amendment right against self-incrimination because the SEC would not guarantee the information would not be later used against him. In September, the SEC said it was looking at whether Lay knew of, or was involved in, fraudulent activity at Enron.