Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, March 28, 2007

SEC Charges Two Enron Inhouse Counsel

On March 28, the SEC charged two former in-house  attorneys  of  Enron Corp., Jordan H.  Mintz,  a  former  Enron  Vice  President  and General Counsel of Enron's Global  Finance  group  (EGF)  and  Rex  R. Rogers, a former Enron Vice President and Associate  General  Counsel, in  connection   with   a   fraudulent   scheme   to   make   material misrepresentations in, and to omit material disclosures from,  Enron's public filings. The Commission's complaint charges  Mintz  and  Rogers with violating the antifraud  and  other  provisions  of  the  federal securities laws, and aiding and abetting  Enron's  violations  of  the antifraud  and  periodic  reporting  provisions.  In   addition,   the complaint charges Mintz with violating the books and records and lying to auditors provisions, and Rogers with aiding and abetting violations of  the  insider  stock  sale  reporting  provision  by  Enron's  then Chairman, Kenneth  Lay.  Mintz,  as  General  Counsel  of  EGF,   was responsible for managing the related party disclosures in Enron's 2000 Proxy Statement (incorporated  in  its  2000  Form  10-K)  and  second quarter 2001  Form  10-Q,  and  closing  a  fraudulent  related  party transaction  while  knowingly  or  recklessly  disregarding  that  the transaction was in  fulfillment  of  a  secret  oral  side  agreement.  Rogers, as Enron's top securities  lawyer,  was  responsible  for  the timing and content of all Enron's SEC filings.

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