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

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.