Four former Merrill Lynch bankers have also been convicted in what is the first criminal trial into the Enron scandal. Former Enron accountant, Sheila Kahanek, was found not guilty.
The convicted men will be sentenced at a later date, but could get up to 15 years in prison each.
According to reports in The Daily Telegraph the jury found that the men had rigged a deal to sell Merrill Lynch three power-producing barges owned by Enron so that the energy giant could meet Wall Street profit forecasts.
Prosecutors said the deal was designed to manipulate earnings and mislead investors, because Enron promised to buy back the barges at a profit to Merrill Lynch later on.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements