Enron & Andersen scandal
Enron & Andersen scandal
SCOTTISH accountants will this week challenge the tough regime forced on to the profession by US legislators following the collapse of Enron.
Key quote "I had $1.3 million and all I have to show for it is two clocks [service awards]. People think things like that don't happen in America, but it does. It happened to us" - Charles Prestwood, former employee
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A JURY'S verdict that Enron founder Kenneth Lay committed fraud and conspiracy in the months leading up to his company's collapse has been quashed.
ROYAL Bank of Scotland and Barclays would be "doomed to lose" if the civil case being brought against them by Enron shareholders goes to court, a leading US lawyer claimed today.
THE jailed former chief financial officer of collapsed energy trading giant Enron was yesterday reported to have told plaintiffs' lawyers that verbal assurances he gave to the group's banks, including Royal Bank of Scotland, "were considered guarantees that the banks' equity investments would be repaid".
THE mastermind behind the financial schemes that brought down Enron has been jailed for six years - four years less than he had agreed to in a plea bargain.
ANDREW Fastow, the former chief financial officer of Enron, whose apparent business wizardry was exposed as fraud and theft in the company's 2001 collapse, was sentenced to six years in prison yesterday.
THE NatWest Three will not be ready for trial in the United States in September because two of the former bankers are looking for new lawyers.
THREE British bankers facing fraud charges must stay in the United States while awaiting trial, after a judge yesterday called them "a flight risk".
BARCLAYS said yesterday a US court had thrown out claims against the bank in a class-action lawsuit linked to the collapse of oil giant Enron.
A UNITED States court has dismissed claims against Barclays in a multi-billion dollar law suit filed by Enron shareholders against banks that worked with the collapsed energy giant.
SOURCES close to Royal Bank of Scotland yesterday said the bank was perplexed at mounting speculation that it is close to settling its multi-million-pound civil action with shareholders in the former Enron Corporation.
THE NatWest Three were due to apply for bail today after spending last night in a Texas prison cell as the political storm over their extradition to the United States refused to subside.
A KEY witness in the trial of the "NatWest Three" has been found dead in parkland, as the controversy over the bankers took a tragic turn on the eve of their extradition to the United States today.
THE BODY of a former Royal Bank of Scotland executive linked to the "Natwest Three" case has been found in east London.
PEERS voted last night to suspend the UK's current extradition arrangements with the United States until the US Senate has signed its side of the deal.
ONE of three bankers facing extradition to the United States under controversial British laws yesterday told of his fears about the treatment they will face when they arrive in America this week.
THREE former NatWest bankers charged with Enron-related fraud will be extradited to the United States on Thursday, their solicitor said today.
THE Scottish banker embroiled in a deportation row after the collapse of energy giant Enron says he is financially crippled and fears he will be unable to defend himself in a US court.
SCOTTISH ministers have dramatically entered the row over the extradition of the so-called NatWest Three group of bankers by backing the campaign to prevent them being deported to the US.