• 18 Jun 2009 at 12:09 PM

Convicted Merrill Fraudsters May Be Convicted Again

By Greg Michaels

Merrill.jpgThree former Merrill employees, originally convicted of conspiracy and fraud in 2004 and subsequently exonerated in 2006, may be back on the stand soon to explain their roles in helping Enron commit fraud. The ex-Merrillites got a pass in 2006 when an appeals court determined government tried the original case improperly. At issue is their little scheme whereby Enron “sold” 3 barges to Merrill to help meet its profit targets and then took them back in 6 months. Merrill earned a guaranteed return on the “sale” which bears a striking resemblance to a lease. Should the government not trip over its own feet for a second time, Andy Fastow may have some new cellmates.
Ex-Merrill bankers may be retried over Enron fraud [Reuters]

Comments (9)

  1. 1
    Posted by guest | June 18, 2009 at 12:15 PM

    Bess, we need to talk about your flair

  2. 2
    Posted by guest | June 18, 2009 at 12:24 PM

    BLANUS?

  3. 3
    Posted by guest | June 18, 2009 at 12:36 PM

    US Open in rain delay and this is the best morning re-tread you could come up with? sheeesh….
    now i gotta say it too ….ANUS

  4. 4
    Posted by guest | June 18, 2009 at 12:45 PM

    Bess/(Poor Greg):
    Should we revisit Lynne Tilton??
    NEW YORK (Reuters) – Three Japanese companies filed an involuntary bankruptcy petition against trendy cosmetics company Stila Corp in a Delaware court, saying it failed to pay its debts, according to court documents.
    The creditors listed in the filings made on Wednesday are cosmetics makers Tokiwa Corporation, JO Cosmetics Co and Nihon Kolmar Co, all based in Japan. Together they list claims for sale of goods totaling $812,448.
    Stila, which has a cult following for its trendy lipgloss and eyeshadow products, is owned by private equity firm Patriarch Partners. It was once owned by Estee Lauder (EL.N) and was sold to Sun Capital in 2006, which sold it to Patriarch this year.

  5. 5
    Posted by guest | June 18, 2009 at 12:52 PM

    Thanks for bringing that shit up again!
    ~Fake Jeff Skilling

  6. 6
    Posted by guest | June 18, 2009 at 12:57 PM

    Why didn’t they get new jobs at Goldman Sachs?

  7. 7
    Posted by guest | June 18, 2009 at 1:00 PM

    “Barge Deal” is the new killing it.

  8. 8
    Posted by guest | June 18, 2009 at 1:12 PM

    I say let the bankers go, and instead arrest Stan O’Neal for impersonating a CEO and running a fortune 500 company into the ground.

  9. 9
    Posted by guest | June 18, 2009 at 1:18 PM

    @8 FTW

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