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Enron timeline { July 8 2004 } Original Source Link: (May no longer be active)
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Timeline: Enron Corp.
Thursday, July 08, 2004
HOUSTON -- A chronology of Enron Corp.:
1985 -- Houston Natural Gas merges with InterNorth to form Enron.
1989 -- Enron begins trading natural gas commodities.
December 2000 -- Enron announces president and chief operating officer Jeffrey Skilling will take over as chief executive from Kenneth Lay in February. Lay will remain as chairman. Stock hits 52-week high of $84.87.
August 2001 -- Skilling resigns after six months; Lay named CEO again.
Oct. 16 -- Enron reports $638 million third-quarter loss and discloses $1.2 billion reduction in stock value, partly related to partnerships run by chief financial officer Andrew Fastow.
Oct. 22 -- Enron acknowledges Securities and Exchange Commission inquiry.
Oct. 24 -- Enron ousts Fastow.
Oct. 31 -- Enron announces SEC inquiry has been upgraded to a formal investigation.
Nov. 8 -- Enron revises financial statements for past five years to account for $586 million in losses.
Nov. 28 -- Enron stock plunges below $1.
Dec. 2 -- Enron files for Chapter 11 bankruptcy.
2002
Jan. 9 -- Justice Department confirms it has begun a criminal investigation.
Jan. 23 -- Lay resigns as chairman and CEO.
Feb. 7 -- Fastow and former top aide Michael Kopper invoke the Fifth Amendment before Congress; Skilling testifies, saying he knew of no problems at Enron when he resigned.
March 14 -- Former Enron auditor Arthur Andersen LLP indicted for destroying Enron-related documents.
April 9 -- David Duncan, Andersen's former top Enron auditor, pleads guilty to obstruction.
June 15 -- Andersen convicted of obstruction.
Aug. 21 -- Kopper pleads guilty to conspiracy, agrees to cooperate with investigators.
Oct. 16 -- Andersen sentenced to probation and fined $500,000; firm was already banned from auditing public companies and had only a few hundred employees left after its conviction.
Oct. 31 -- Fastow indicted on 78 charges of conspiracy, fraud, money laundering and other counts.
2003
March 19 -- Enron announces plan to emerge from bankruptcy as two companies.
May 1 -- Andrew Fastow's wife, Lea, and seven former executives charged. Lea Fastow accused of participating in some of husband's deals.
July 11 -- Enron files reorganization plan that says most creditors will get about one-fifth of the $67 billion they are owed.
Sept. 10 -- Former Enron treasurer Ben Glisan Jr. pleads guilty to conspiracy, becomes first former Enron executive put behind bars.
2004
Jan. 6 -- Enron's roadmap for emerging from bankruptcy receives New York judge's initial blessing and will be sent to creditors for approval.
Jan. 8 -- Federal judge tentatively accepts plea bargain that could result in five-month prison term for Lea Fastow.
Jan. 9 -- Deadline passes for agreement on plea bargain for Lea Fastow.
Jan. 14 -- Andrew Fastow pleads guilty to conspiracy in a deal that called for a 10-year sentence and his help in the continuing investigation. Lea Fastow pleads guilty to filing false tax forms in a deal that calls for a five-month sentence and a year of supervised release.
May 6 -- Lea Fastow, a former Enron assistant treasurer, pleads guilty to misdemeanor tax charge and is sentenced to maximum one-year prison sentence.
July 7 -- Former CEO Kenneth Lay is indicted by federal grand jury.
July 8 -- Kenneth Lay surrenders to federal authorities in Houston.
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