Convicted Merrill Fraudsters May Be Convicted Again

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Three 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]

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