UK bankers face Enron fraud trial
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Three former bankers with the UK&#39;s NatWest bank were told on Friday that they should be extradited to the US to face fraud charges connected to the collapsed energy company Enron.
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The first criminal trial stemming from accounting fraud at Enron Corp, which has just started, will test claims that Wall Street executives contributed to the crime that drove the former energy trader into bankruptcy.
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Three British bankers will today begin fighting extradition to the US on fraud charges related to Enron Corp., the first test of new British extradition laws.
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A FIRST Enron executive to face criminal charges has been found guilty along with four former Merrill Lynch bankers in a conspiracy and fraud trial that, while a sideline to the Enron scandal, leads the way to further prosecutions.
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A judge ruled today that three British bankers can be extradited to the United States to face wire fraud charges related to off-balance sheet dealings with the Enron energy group.
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Three UK bankers can be extradited to the US to face fraud charges related to a deal with Enron, a judge rules.
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Lawmakers are to make a 11th-hour effort to get the government to stall the extradition of three British bankers who face trial in the United States for an Enron-related fraud allegedly committed in Britain.
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Citigroup Inc. (C.N) faces a lawsuit from angry investors who allege they were defrauded in a "massive scheme of deception" when they bought securities tied to the credit-worthiness of Enron Corp. (ENRNQ.PK).
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The first criminal trial involving former Enron staff since the firm&#39;s collapse is set to begin. Two employees of the failed US energy giant and four Merrill Lynch executives face criminal charges relating to an Enron transaction in Nigeria in 1999.
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Six former executives of Enron Corp. and Merrill Lynch &amp; Co. on Tuesday were accused by a federal prosecutor of disguising a $7 million loan as a sale of energy-producing barges to &quot;help Enron out of a jam.
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A former Enron executive currently  serving a prison term testified in the first Enron criminal  trial on Wednesday that he worked on a secret deal with Merrill  Lynch to fraudulently boost the disgraced energy giant's  profits.
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A British judge said Friday that he saw  no reason why three former British bankers could not face trial  in the United States over alleged fraud charges involving Enron  executives.
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(InfoWorld) - Kenneth Rice, former CEO of Enron Broadband Services (EBS), has been sentenced to 27 months in prison on securities fraud charges and ordered to turn over about $15 million, the U.S. Department of Justice announced Monday. The $15 million will go to victims of the fraud at Enron, the Texas energy company that filed for bankruptcy in December 2001 before investigations revealed widespread accounting fraud. Rice and others at EBS, a unit of Enron, made a series of false statements about the products and business performance in order to mislead investors about the success of the company and inflate the price of Enron's stock, the DOJ said in a press release. Rice was sentenced Monday by Judge Vanessa Gilmore at U.S. District Court for the Southern District of Texas in Houston. Rice pleaded guilty in July 2004 to a securities fraud charge and cooperated with the DOJ's investigation into the collapse of Enron. While serving as CEO at EBS, Rice conspired with others to make false statements about the company's development of various software capabilities and its fiber-optic network, the DOJ said. Rice falsely portrayed EBS as a commercial and business success and falsely claimed that network control software developed by EBS was "up and running," when in fact the software had not progressed beyond the internal development stage. These misrepresentations, including a failure to disclose to the investing public that the company stood to sustain operating losses in 2001, contributed to a sharp rise in Enron's stock price, the DOJ said. EBS entered a number of partnerships before Enron's collapse. In July 2000, Blockbuster announced that it struck an exclusive 20-year partnership with EBS to deliver video on demand by early 2001. Blockbuster began testing the service in February 2001. Kevin Hannon, the former COO at EBS, was sentenced by Gilmore earlier this month to two years in prison, and fined $125,000. Hannon pleaded guilty in August 2004 to conspiracy to commit securities fraud and wire fraud. To date, the federal Enron Task Force has brought criminal charges against 36 defendants, including 25 former Enron employees. Eighteen of those defendants have pleaded guilty or been found guilty after trial. The task force has seized more than $100 million in Enron cases.
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NEW YORK, September 22  - A witness in the first Enron criminal trial, and a former executive at the company, testified today that she believed that the Enron executives now on trial were involved in an effort to hide an illicit deal
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The government prepared to rest its fraud and conspiracy case today following testimony from a key Enron executive that a barge sale was a sham designed to inflate profits.
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Three UK bankers facing US fraud charges relating to Enron ask to know why the Serious Fraud Office will not prosecute them.
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A former Enron executive currently serving a prison term testified in the first Enron criminal trial on Wednesday that he worked on a secret deal with Merrill Lynch to fraudulently boost the disgraced energy giant's profits.