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

To: Glenn Petersen who wrote (3046)	6/24/2004 12:53:53 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3602

Charges added in Enron-Merrill case Defendants face two new wire fraud charges in case involving bogus sale of Nigerian barges. rds.yahoo.com*-http://money.cnn.com/2004/06/23/news/fortune500/merrill_enron.reut/index.htm June 23, 2004: 5:57 PM EDT HOUSTON (Reuters) - Federal prosecutors Wednesday added two new wire fraud charges against all six defendants in the criminal case involving Enron Corp.'s bogus 1999 sale of barges in Nigeria to Merrill Lynch & Co. Inc. The U.S. Justice Department's Enron Task Force said the superseding indictment adds charges against two former Enron executives and four former Merrill Lynch bankers. The six were involved in the barge transaction, which prosecutors say was created to help Enron fraudulently meet a year-end profit target and mislead investors. They were initially all charged with conspiracy to commit wire fraud and falsify books and records, which carries a five-year maximum prison term. The defendants are former Enron executives Dan Boyle and Sheila Kahanek and ex-Merrill Lynch bankers Daniel Bayly, Robert Furst, William Fuhs and James Brown. In the new indictment, all six are additionally charged with two counts of wire fraud, punishable by up to 10 years in prison. Boyle is also now charged with a count of making a false statement, which carries a maximum penalty of five years. The new charges come six weeks before the case is to go to trial, on Aug. 16. It would become the first criminal trial involving Enron employees implicated in the Houston energy conglomerate's disastrous failure. U.S. District Judge Ewing Werlein delayed the trial shortly before jury selection was to begin on June 7, citing the need for more time to try the case. Fuhs was originally charged with obstruction of justice and making false statements and Brown with obstruction and perjury. They each now face a maximum of 30 years in prison.