The Corporate World - Wednesday, September 17, 2008 9:26 - 0 Comments

Former Enron executive pays SEC $31.5 million to settle case

We all know the tragic story of the collapsed Enron Corp. that not only hurt lots of folks, but also caused the federal government to finally start looking at what some other corporations were doing. A former top executive of Enron is paying $31.5 million to settle charges in a civil action alleging that he used inside information to illegally profit from sales of thousands of shares of company stock in 2001. According to the Securities and Exchange Commission, the settlement with Lou L. Pai — who was chairman and chief executive of the fallen company’s retail energy division Enron Energy Services — is one of the largest ever with an individual for illegal insider trading.

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