New Headaches For Enron

FBI agents and federal prosecutors are investigating the possibility that Enron and other companies conducted fraudulent electricity trades from 1999 to 2001 which resulted in the manipulation of power prices in California, Oregon, and Washington.

The case is being presented to a grand jury in California. Prosecutors are attempting to determine whether former Enron CEO Jeffrey Skilling and former president and head of trading, Greg Whalley were aware of the fraudulent trades and attempted to conceal them.

Two years ago California, Oregon, and Washington experienced an ongoing series of rolling electricity blackouts, and millions of consumers faced large rate increases for their power usage.

The current investigation could result in criminal charges for several Enron executives and traders, and represent a new direction of possible litigation for the troubled energy company. At least two Enron traders have already invoked their Fifth Amendment privileges and refused to testify in lawsuits relating to the West Coast power crisis.

Upcoming CPE Webinars

Apr 17
In this exciting presentation Excel expert David H. Ringstrom, CPA shares tricks that you can use with pivot tables every day. Remember, either you work Excel, or it works you!
Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.