Okay, the show trials are over... the worthless maggots
(the people with a net worth below $100 million) had
their pathetic sense of "justice" satisfied, and now the
goverment can start quietly overturning all those
convictions of decent people...
| NEW YORK (Reuters) - A federal appeals court has
| overturned most of the convictions against four
| former Merrill Lynch bankers concerning a bogus
| deal with Enron Corp.
|
| The four men and one former Enron executive were
| convicted in November 2004 of conspiracy and fraud
| charges connected to the sham sale in 1999 of three
| electricity producing barges in Nigeria by Enron to
| Merrill.
|
| A jury in the case had agreed with prosecutors that
| Enron had illegally used the deal to inflate its profits
| by promising to buy back the barges in six months.
|
| But in a 43-page opinion, the U.S. Court of Appeal
| for the Fifth Circuit in New Orleans overturned wire
| fraud and conspiracy convictions against Daniel
| Bayly, Robert Furst, William Fuhs and James Brown,
| while upholding Brown's conviction on perjury and
| obstruction charges.
You see, to make Enron look healthy -- while the
executives stole every last dime they could then
ran for cover -- they "sold" assests with a secret
agreement to buy them back. So, on the books, say,
it would look like they took in an extra $10 million,
but in reality they were actually DOWN a million
or so, because they agreed to buy things back at a
nice profit to their co-conspirators.
http://tinyurl.com/o2ava
http://today.reuters.com/news/newsArticle.aspx?type=domesticNews&storyID=2006-08-02T101922Z_01_N02172494_RTRUKOC_0_US-CRIME-ENRON-MERRILL.xml&archived=False
.
|
