David W Delainey, the former chief executive of Enron North America and Enron Energy Services, has pleaded guilty in Houston’s federal court.
He was alleged to have used the massive trading profits generated from the electricity crisis in California as a back-up fund to cover up loses in other Enron business units.
Based on his insider knowledge it was further alleged that he sold millions of dollars of company stock at inflated prices.
Delainey has agreed to cooperate with the government in what could be a key step in bringing charges against former chief executive Jeff Skilling.
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