A former Enron Corp. executive and two former Merrill Lynch bankers were sentenced to prison last Thursday for their roles in a sham deal in which Enron “sold” electricity-producing barges in Nigeria to the bank and then bought them back at a pre-set price. The men were convicted with two other Merrill executives last November for their roles in the bogus transaction.
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Former Enron, Merrill Executives Sentenced for Bogus Barge Deal
A former Enron Corp. executive and two former Merrill Lynch bankers were sentenced to prison Thursday for their roles in a sham deal in which Enron “sold” electricity-producing barges in Nigeria to the bank and then bought them back at a pre-set price. The men were convicted with two other Merrill executives last November for their roles in the bogus transaction (see Daily GPI, Nov. 4, 2004).
May 16, 2005
Sempra Completes Buy of CMS Trading Book
CMS Marketing, Services and Trading (MST), shadowed by federal investigations into sham energy trading transactions last year, has completed the sale of its wholesale natural gas trading book to Sempra Energy Trading for $18 million.
January 17, 2003
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