Word: koppers
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...corporate "gotcha!" moment that seemed to have it all--longer than a perp walk, more than just a Senate hearing. Former Enron managing director Michael Kopper's guilty plea to wire fraud and money laundering appeared to promise future boons for government prosecutors, who are counting on him to incriminate his bosses, and for defrauded Enron investors, employees and pensioners, who may win back some of the ill-gotten spoils. In court documents, Kopper detailed the schemes that he says he ran with former CFO Andrew Fastow, schemes that cost the energy giant more than $1 billion. (Fastow...
...CARDOSO President of economically troubled Brazil creates Switzerland-sized national park, invites Swiss to move right in?and bring their banks Losers LI KA-SHING Hong Kong magnate loses controversial bid for a stake in TV station, says he only wanted to spare viewers more David Letterman reruns MICHAEL KOPPER Enron exec pleads guilty to money laundering and agrees to give back $12 million in illicit gains as soon as the spin cycle is finished ALI RAFII Iranian director banned from theater because a character in one of his plays sips wine onstage. Next: breathalyzer tests for Iranian poets
...Enron lawyer Kristina Mordaunt, who in March 2000 was invited into a Fastow venture called Southampton Place. She put down $5,800, expecting to make a little money over time, her lawyer Hayden Burns tells TIME. Only a few weeks later, she got a call from Michael Kopper, a Fastow associate, who said the deal was winding down. When Mordaunt opened her bank statement in April, she saw a deposit for $1 million. The Powers report of Enron's special directors committee suggests Mordaunt was cut into the deal to secure her loyalty. Burns says his client did nothing...
...projects had been replaced by unspecified energy projects. CalPERS pulled out of jedi ii in October 2000 to invest in something simpler and more transparent, and Fastow scrambled to set up an entity to take its place. Known as Chewco, it was a partnership controlled by Enron employees, including Kopper. According to the Powers report, Chewco and similar partnerships were engaged in shuffling assets to cover losses and create illusory profits. As a result, Enron overstated earnings by $1 billion from the third quarter of 2000 through the third quarter...
...projects had been replaced by unspecified energy projects. CalPERS pulled out of jedi ii in October 2000 to invest in something simpler and more transparent, and Fastow scrambled to set up an entity to take its place. Known as Chewco, it was a partnership controlled by Enron employees, including Kopper. According to the Powers report, Chewco and similar partnerships were engaged in shuffling assets to cover losses and create illusory profits. As a result, Enron overstated earnings by $1 billion from the third quarter of 2000 through the third quarter...