The SEC said Bowen oversaw portions of Enron North America's merchant portfolio during the Q2 and Q3 of 2000 and said he should have been aware of the $100 million increase to the book value of Enron's largest merchant asset, Mariner Energy Inc.
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Enron's Former Exec To Pay Half A Million
"Bowen knew or was reckless in not knowing of a scheme..."
Raymond Bowen, a former executive of American bankrupt energy giant Enron Corp., agreed to pay $500,000 to settle charges of earnings fraud in 2000, the US Securities and Exchange Commission said on Monday.
Bowen, former Enron North America managing director and co-head of Enron?s commercial transactions group, was barred from serving as an officer or director of a public company for five years.
The SEC said Bowen oversaw portions of Enron North America's merchant portfolio during the Q2 and Q3 of 2000 and said he should have been aware of the $100 million increase to the book value of Enron's largest merchant asset, Mariner Energy Inc.
"Bowen knew or was reckless in not knowing of a scheme to manipulate Enron's publicly-reported earnings through a variety of devices designed to produce materially false and misleading financial results," the SEC said.
The SEC said Bowen oversaw portions of Enron North America's merchant portfolio during the Q2 and Q3 of 2000 and said he should have been aware of the $100 million increase to the book value of Enron's largest merchant asset, Mariner Energy Inc.
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