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Corruption abroad Original Source Link: (May no longer be active)    http://story.news.yahoo.com/news?tmpl=story&u=/dowjones/20020805/bs_dowjones/200208050050000020 http://story.news.yahoo.com/news?tmpl=story&u=/dowjones/20020805/bs_dowjones/200208050050000020 Enron Criminal Probe Focuses on Alleged Corruption Abroad Mon Aug 5,12:50 AM ET WASHINGTON -- Federal prosecutors are investigating whether Enron Corp . ( ENRNQ) for years bribed foreign government officials to win contracts for its far-flung operations abroad, underscoring the sweep of the government's probe into Enron's collapse, Monday's Wall Street Journal reported. The Justice Department ( news - web sites)'s Enron Task Force is examining the energy company's overseas operations for possible criminal violations of the Foreign Corrupt Practices Act, according to government officials and lawyers close to the case. The previously undisclosed inquiry is examining Enron's efforts to win foreign pipeline, power and water-privatization projects, some reaching as far back as the mid-1990s, they said. In some countries, projects were awarded to Enron without competitive bidding, or assets were acquired at below-market values, amid allegations by the World Bank ( news - web sites) and others of government favoritism. Enron has denied ever paying bribes, and says that it has "a clear anticorruption policy prohibiting the payment, solicitation and receipt of bribes in any form." The Houston company has also said that some of the bribery allegations have been falsely brought by commercial rivals or by local political opponents. "It's not uncommon for any business to encounter these kinds of charges, especially in the developing world," said, a spokesman for Enron Global Services. The Justice Department's investigation represents another front in the government's protracted battle against Enron, which collapsed into bankruptcy- court proceedings late last year. Although charges have been brought in more recent corporate scandals, including WorldCom Inc ( WCM - News) ., assembling a case against Enron has proved more difficult because of the company's complex accounting that allegedly hid debt and inflated reported income. Although the allegations of corrupt practices abroad aren't new, their scrutiny, if substantiated, could add another weapon to prosecutors' arsenal against Enron. Wall Street Journal Staff Reporter John R. Wilke contributed to this report.

Big mergers have long history of failure and troubles { January 15 2004 } Church groups launch corporate code conduct { May 21 2003 } Corruption abroad Doubt self policing wallstreet { May 8 2003 } Foreign governments Global economy power balance { January 31 2001 } Goldman settles insider trading { September 4 2003 } Multinational companies attempt coup in guinea Poll want regulation { July 1 2002 } Sec examines stock pricing by big bokers { November 8 2004 } Starbucks dropped from socially responsible list Supermarket chains destroy central american farmers { December 28 2004 } US accuses big tobacco of fraud racketeering { June 8 2005 } US protects multinationals { August 29 2002 } Western companies fuel corruption abroad Whitehouse weakens whistle blower protection { August 1 2002 } Files Listed: 16

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