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February, Tuesday



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News // Crime

Enron Board of Directors' Side Deals Questioned

03 December 2001 , 07:34422
The deals ranged from consulting jobs to purchases of goods and services from affiliated companies raising doubts about the board's independence from the senior managers they were supposed to supervise
on behalf of the stockholders. In contrast to the off-balance-sheet financing partnerships that played a key role in its demise, the company made detailed disclosures of its deals with members of its board of directors in a proxy statement published earlier this year. The document shows that in addition to his supervisory duties one
Enron director was paid over $493,000 last year for providing consulting services. Another received $72,000 last year for advice on Enron's European operations. Still another was affiliated with the privately owned National Tank Company that made sales to Enron worth over $370,000 last year.


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