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Latest Enron Corp. Stories

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2008-09-10 09:05:00

By Juan A. Lozano / Associated Press Enron Corp. shareholders and investors will split about $7 billion from financial institutions accused of participating in the fraud that caused the once-mighty energy company to collapse. The settlement amount was listed at $7.2 billion, a sum that has been accruing interest since 2002 and includes $688 million plus interest in attorneys fees. The deal, approved late Monday by U.S. District Judge Melinda Harmon, and the attorneys fees are the largest...

2006-08-02 09:00:27

NEW YORK (Reuters) - A federal appeals court has overturned most of the convictions against four former Merrill Lynch bankers concerning a bogus deal with Enron Corp. The four men and one former Enron executive were convicted in November 2004 of conspiracy and fraud charges connected to the sham sale in 1999 of three electricity producing barges in Nigeria by Enron to Merrill. A jury in the case had agreed with prosecutors that Enron had illegally used the deal to inflate its profits...

2006-08-02 05:19:40

NEW YORK (Reuters) - A federal appeals court has overturned most of the convictions against four former Merrill Lynch bankers concerning a bogus deal with Enron Corp. The four men and one former Enron executive were convicted in November 2004 of conspiracy and fraud charges connected to the sham sale in 1999 of three electricity producing barges in Nigeria by Enron to Merrill. A jury in the case had agreed with prosecutors that Enron had illegally used the deal to inflate its profits...

2006-07-13 14:24:06

By Matt Daily HOUSTON (Reuters) - Three former NatWest bankers extradited from Britain arrived in Houston on Thursday to face fraud charges connected to a 2000 deal linked to collapsed energy giant Enron Corp. The extradition of David Bermingham, Giles Darby and Gary Mulgrew put in the spotlight British concerns that a new treaty with the United States intended to facilitate the transfer of terror suspects was being misused to target white collar crimes. The United States has not...

2006-07-07 08:10:00

HOUSTON -- The body of Enron Corp. founder Ken Lay will be cremated and his ashes buried in Aspen, Colorado where he died this week of an apparent heart attack, a newspaper reported on Friday. The Houston Chronicle, quoting a source close to Lay's family, said the cremation and Aspen burial had been Lay's wish because the mountain town, where he once owned several properties, was his favorite place in the world. The Lay family will hold a private service in Aspen on Sunday for the one-time...

2006-07-06 21:21:48

WASHINGTON (Reuters) - President Bush on Thursday called convicted Enron Corp. founder Ken Lay, who died this week, a "generous person," but said he had betrayed the trust of shareholders. Lay died of heart disease on Wednesday while on vacation in Colorado, six weeks after being convicted of fraud and conspiracy in the financial scandal that brought down the energy conglomerate. Lay, a former confidant of Bush's father, and called "Kenny boy" by the current president, was once a...

2006-07-06 14:32:39

HOUSTON (Reuters) - The sudden death of disgraced Enron Corp. founder Ken Lay topped newspaper headlines across the nation on Thursday, with media reactions ranging from outraged to cheated. The outrage was provided by the The New York Post, which gave voice to the conspiracy theories circulating around the Internet that Lay's death was faked. "Before they put cheato Lay's coffin in the grave check he's in it," the tabloid splashed on its front page. Some media kept the story...

2006-07-06 14:30:59

HOUSTON (Reuters) - The sudden death of disgraced Enron Corp. founder Ken Lay topped newspaper headlines across the nation on Thursday, with media reactions ranging from outraged to cheated. The outrage was provided by the New York Post, which gave voice to the conspiracy theories circulating around the Internet that Lay's death was faked. "Before they put cheato Lay's coffin in the grave check he's in it," the tabloid splashed on its front page. Some media kept the story simple,...

2006-07-05 18:29:48

By Matt Daily HOUSTON (Reuters) - Enron Corp.'s founder Ken Lay died of heart disease on Wednesday while vacationing near Aspen, Colo., six weeks after being convicted of fraud and conspiracy in the financial scandal that brought down the once-mighty energy conglomerate. Lay, 64, who was awaiting sentencing, faced decades in prison in connection with Enron's 2001 bankruptcy. "There was no evidence of foul play," Dr. Rob Kurtzman, the forensic pathologist who performed the autopsy...

2006-07-05 16:03:57

By Matt Daily HOUSTON (Reuters) - Enron Corp. founder Ken Lay died of an apparent heart attack on Wednesday, six weeks after he was convicted of fraud in the financial scandal that brought down the once-mighty energy conglomerate. Lay, 64, was at his vacation home near Aspen, Colorado, awaiting sentencing, and was expected to face decades in prison for his fraud and conspiracy convictions linked to Enron's 2001 bankruptcy. "Ken Lay passed away early this morning," Lay family...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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