Wakeham to face Enron grilling
Lord Wakeham, the former Energy secretary and chartered accountant, has been ordered to appear before a US Senate committee to explain his role in the collapse of energy giant Enron.
According to reports, Wakeham, along with 50 other individuals connected to Enron, has been subpoenaed to give evidence in front of the Senate’s governmental affairs committee.
In particular, the committee will want to quiz Wakeham over the part he played as a key member of two board committees – the company’s audit and compliance committee and a separate committee designed to protect shareholders’ interests.
Wakeham, who carved his reputation as Margaret Thatcher’s ‘Mr Fixit’ has been a non-executive director at Enron since 1994.
As Energy secretary he gave consent for Enron to build Britain’s largest private power plant on Teeside.