Enron Corporation executive found shot to death - Mexico reports over sixty "fake" Enron companies

Enron Corporation executive found shot to death

Mexico reports over sixty "fake" Enron companies

by
Hector Carreon
La Voz de Aztlan
Los Angeles, Alta California - 1/25/2002 - (ACN) The "Saga of the Enron Robber Barons" is getting sleazier by the day. The body of former Enron Vice Chairman John Clifford Baxter has just been found in his black Mercedes sedan (he also owned BMWs, Ferraris and other "exotic" cars) with a bullet in the head. Clifford Baxter had resigned from Enron in May, 2001 after he refused to take part in the corporation's shady financial practices and operations. He had strongly complained to the Enron CEO, Jeff Skilling, about the inappropriateness of the corporation's transactions with LJM, one of the partnerships that kept hundreds of millions of dollars in debt hidden from investors. There is a strong possibility that his demise was, as the shredding of corporate records, to keep "criminal secrets" from the public and law enforcement agencies. Who knows what dirty secrets he will be taking to his grave!
Baxter's body was found very early this morning in Houston, Texas in his car parked between two medians near his home in a high priced residential area known as Sugar Land. He was found by a police officer. There are contradictory reports concerning evidence that was found at the scene. There are appears to be a media effort to cover up some facts concerning a purported "suicide note". Baxter made over $35.2 million by selling his Enron stock at its peak and was living very happy with his wife Carol and two school age children.
Meanwhile, the Mexico City daily La Jornada is reporting that Enron had over sixty phoney companies based in Mexico that were used to hide debt and losses and to launder dirty money. The companies were based in Cancún, Torreón and México City but had addresses of record in the Caimán Islands, Holland and the State of Delaware. La Jornada bases its report on documents just released by the Securities and Exchange Commission that lists the following "paper companies": Enron Mexico Corporation with address in Delaware; Enron Mexico Holdings I Ltd, with address in the Caimán Islands; Enron Mexico I LLC, with address in the Caimán Islands; Enron Mexico Holdings 2 Ltd, with address in the Caimán Islands; Enron BW Holdings Ltd, with address in the Caimán Islands; Enron Mexico Holdings 4 with address in the Caimán Islands; Enron Mexico Holdings 5, with address in the Caimán Islands; Enron México, with address in Holland; Enron Mexico VII B.V., with address in Holland; Enron Mexico VIII B.V., with address in Holland; Enron Mexico IX B.V, with address in Holland and Enron XVIII B.V., with address in Holland.
It appears that the crooked dealings of Enron Corporation were worldwide. We recently reported on the gas pipeline deal with the corrupt ex-president of Argentina Carlos Menem. Menem is in large measure responsible for the economic crisis in Argentina. The gas pipeline deal was arranged through ex- president George Bush Sr. and President George Bush Jr..
The death of Enron's Vice Chairman Clifford Baxter, under extremely suspicious circumstances, may turn out to be a "Watergate" for President Bush and may even taint his good friend, President Vicente Fox of Mexico. President Fox must immediately be forthright on the Enron phoney companies in Mexico in order to avoid dirt that may be thrown in his direction. President Vicente Fox is respected and viewed as an honest person but he must be careful and stay disassociated from the horrendous and growing Enron scandal in the United States.

Enron defendants

Following is a list of the 29 former and current Enron executives and board members named as defendants in a federal lawsuit and proceeds totalling $1.1 billion that plaintiffs' lawyers say each made by selling Enron stock between October 1998 and November 2001:

-- Kenneth Lay, Chairman and chief executive: Sold 1.8 million shares for $101 million

-- Jeffrey Skilling, former chief executive: Sold 1.1 million shares for $66.9 million.

-- Andrew Fastow, former chief financial officer: Sold 561,423 shares for $30.4 million.

-- Jeff McMahon, chief financial officer: Sold 39,630 shares for $2.7 million.

-- Lou L. Pai, chief executive of Enron Accelerator: Sold five million shares for $353 million.

-- Kenneth D. Rice, chief executive Enron Broadband Services: Sold 1.1 million shares for $72.7 million.

-- Rebecca P. Mark, vice chairwoman and director Sold 1.4 million shares for $79.5 million.

-- Ken Harrison, director and former chief executive, Portland General Electric: Sold one million shares for $75.2 million.

-- Mark A Frevert, chief executive of Enron Wholesale Services: Sold 830,620 shares for $50.2 million.

-- Robert A. Belfer, director and member of executive committee: Sold one million shares for $51 million.

-- Stanley C. Horton, chief executive Enron Transportation Services: Sold 734,444 shares for $45.4 million.

-- Joseph W. Sutton, vice chairman: Sold 614,960 shares for $40 million.

-- Clifford Baxter, vice chairman: Sold 577,436 shares for $35.2 million.

-- Joseph M. Hirko, chief executive, Enron Broadband Services: Sold 473,837 shares for $35.1 million.

-- Richard A. Causey, chief accounting officer: Sold 197,485 shares for $13.3 million.

-- James V. Derrick, general counsel: Sold 230,660 shares for $12.6 million.

-- Mark E. Koenig, vice president: Sold 129,153 shares for $9.1 million.

-- Cindy K. Olson, vice president: Sold 83,183 shares for $6.5 million.

-- Steven J. Kean, director: Sold 64,932 shares for $5.1 million.

-- John H. Duncan, director: Sold 35,000 shares for $2 million.

-- Richard B. Buy, chief risk officer: Sold 54,874 shares for $4.3 million.

-- Michael S. McConnell, president, Enron Global Markets: Sold 30,960 shares for $2.3 million.

-- Norman P. Blake, director: Sold 21,200 shares for $1.7 million.

-- Joe H. Foy, director: Sold 31,320 shares for $1.6 million.

-- J. Mark Metts, vice president and director: Sold 17,711 shares for $1.4 million.

-- Charles A. LeMaistre, director and member of compensation committee: Sold 17,344 shares for $841,768.

-- Robert K. Jaedicke, director and member of audit committee: Sold 13,360 shares for $841,438.

-- Ronnie C. Chan, director and audit committee member: Sold 8,000 shares for $337,200.

-- Wendy L. Gramm, director and audit committee member: Sold 10,256 shares for $276,912.

-- -- --
Source: Milberg Weiss Bershad Hynes & Lerach LLP

HOME