BusinessCompany NewsWakeham drawn back into Enron mire

Wakeham drawn back into Enron mire

Former Conservative minister in spotlight again

The trial of former Enron bosses Ken Lay and Jeff Skilling has refocused the
spotlight on former Tory minster Lord Wakeham, a director at the company when it
collapsed five years ago.

Documents disclosed by prosecutors, including handwritten minutes of a
boardroom meeting, revealed that Lord Wakeham brushed aside the warnings of a
whistleblower – Enron vice-president Sherron Watkins – that the company would
‘implode’ as ill-informed just two months before Enron abruptly plunged into
bankruptcy, The Guardian reported.

Handwritten minutes of the meeting released by the US government reveal that
Lord Wakeham was fully supportive of a decision to reject her concerns.

Lord Wakeham, 63, served as energy secretary in the Thatcher and Major
administrations. He joined the board of Enron in 1994 and was paid £80,000 a
year as a non-executive director.

He is being investigated by the Joint Disciplinary Scheme (JDS) over his
conduct at Enron.

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