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Wednesday, March 28, 2007

SEC Charges Two for Enron's Brazil Deal

The Securities and Exchange Commission has charged two former Enron lawyers for their role in the sale of a Brazilian power project to one of the company's infamous partnerships.

The SEC alleged that Jordan H. Mintz, former vice president and general counsel of Enron's global finance group, and Rex R. Rogers, former vice president and associate general counsel, of making material misrepresentations and omitting material disclosures from the company's public filings. According to the commission, the misconduct concerned Enron's 1999 sale of an interest in a troubled power project in Cuiaba, Brazil, to a related party called LJM Cayman (a.k.a. LJM1), controlled by then-chief financial officer Andrew Fastow.

SEC Charges Two for Enron's Brazil Deal

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