Enron execs settle civil charges
Accountant and lawyer to pay £17,000 each
A former Enron accountant and lawyer have settled civil fraud charges for
their roles in manipulating earnings in 2000 at Enron.
Dale Rasmussen, a former attorney for Enron in Portland, Oregon, and David
Leboe, a former Enron accountant in Texas, have agreed to pay $30,001 (£17,200)
for their roles in the alleged fraudulent accounting surrounding the ‘Coyote
Springs 2’ power plant project, US regulator, the Securities & Exchange
The Coyote Springs 2 project involved the sale of a power plant development
project in Oregon. Accounting rules call for revenues from such a project to be
recognised over time as the project is completed.
According to reports, Enron often used such schemes to boost its earnings in
order to meet the aggressive growth target it had promised investors.