Tags: Senator | Says | Enron | Not | Cooperating

Senator Says Enron Not Cooperating

Friday, 01 February 2002 12:00 AM

Sen. Byron Dorgan, D-N.D., said the documents include a list of the 3000 partnerships, who held a stake in them, how much they were paid and what Enron's board of directors may have known about them.

"It's very important for Congress to be able to do its work, to fully investigate what has happened here, for us to have information about all of these partnerships," he said. "To date, the corporation has provided no information to the committee about these partnerships."

Dorgan said the committee didn't immediately plan to issue a subpoena to the company.

There are nine-Enron-related hearings scheduled on Capitol Hill next week. Dorgan, chairman of a Senate Commerce subcommittee, will have the first chance to question former Enron Chairman and Chief Executive Officer Kenneth Lay, who is scheduled to appear before the panel at 9:30 a.m. Monday.

Robert Bennett, a Washington attorney representing Enron, was unavailable for comment late Thursday.

Dorgan said Jeffrey Skilling, the former chief executive officer, and Andrew Fastow, Enron's former chief financial officer, had been requested to appear at Monday's hearing.

Attorneys for Skilling told the committee he was unable to appear. Therefore, the senator said he intends to schedule another hearing so that the committee will be able to take testimony from the former chief executive.

Fastow, who was compensated an estimated $30 million for his role in the company, has not responded to the committee's request.

On Dec. 2, Houston-based Enron filed the largest bankruptcy in U.S. history. In October, the company was forced to disclose it had concealed more than $500 million in debt from related partnerships led by company executives.

The disclosure sent the company's stock, which had once traded at around $90 a share, to less than $1 a share.

Copyright 2002 by United Press International. All rights reserved.

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Sen. Byron Dorgan, D-N.D., said the documents include a list of the 3000 partnerships, who held a stake in them, how much they were paid and what Enron's board of directors may have known about them. It's very important for Congress to be able to do its work, to fully...
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2002-00-01
Friday, 01 February 2002 12:00 AM
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