Fraudulent Power Manipulation

[Renshaw]

As a result of power manipulation and illegal price fixing by Enron and others, power prices were driven to an extreme high. Many businesses failed and jobs were lost as a result of contracts signed at inflated prices. I can only assume the contracts were not voided by the government because many of the ones making decisions were bought off by the contributions made by Enron and others. What can the consumer do as an individual or class action to remedy this situation?

[Lok]

Dear Mr. Harris---corporate fraud often prompts class action suits...the suits often fall on the tailcoats of federal enforcement.  If you had a personal loss...either in the Enron security, or, more difficult to prove, through the purchase of power....you may seek to join a class action.  I do not know directly how to find if one is on-going...but generally class action attorneys have a duty to seek out the aggrieved...so I would search on Google.com, under "Enron suits...Enron Class Action," etc.

As an aside, the Securities and Exchange Commission and the Dept. of Energy's FERC regulated Enron.  In my experience, most people who serve on Commissions and in high office in the US do not due so to solicit bribes or pay offs.....often times they are otherwise successful, and they serve as a public service.

My judgement of the Enron fraud is that it resulted from bad corporate culture, jaded outside auditors, and weak oversight from the SEC.

If you would like to know more about the structure of corporate accounting fraud, please see my book, "The Fraud Identification Handbook."  It has an extensive discussion of accounting fraud.

Good Luck------George Allen