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Sarbanes-Oxley News & Developments
Dynegy Former Execs Charged With FraudThree former Dynegy execs were charged with conspiracy and fraud.
> > The indictment named Jamie Olis, former Dynegy senior director of tax planning; Gene Shannon Foster, former Dynegy vice president of tax; and Helen Christine Sharkey, a member of Dynegy risk control. Each are charged with conspiracy, securities fraud, mail fraud and wire fraud. The SEC also filed a civil lawsuit naming all three.
All three are accused of withholding the truth about the true fiscal condition of the company from the SEC, shareholders and the public. Accounting transactions boosted the company cash flow by $300 million and cut its taxes.
Source: Mercury News article
Published:2003-06-13
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