for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Former Enron chief seeks to launch new energy venture: WSJ

Former Enron Chief Executive Jeffrey Skilling leaves Federal court in Houston after prosecutors finished their cross-examination of the beleaguered former executive April 19, 2006. REUTERS/Richard Carson

(Reuters) - Former Enron Corp Chief Executive Jeffrey Skilling has been holding meetings with former Enron executives and others, hoping to win backing for a new energy venture, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Former colleague Lou Pai, who once led Enron’s energy- services unit, has pledged to invest in the venture and indicated to others he is involved with Skilling, the report said.

People familiar with the matter told the Journal the venture is a digital platform connecting investors to oil and gas projects and is at an early stage.

Skilling resigned as chief executive officer of Enron in August 2001, just months before it filed for bankruptcy amid revelations of widespread accounting fraud and corruption.

He was arrested in 2004 and two years later convicted of 19 counts of conspiracy, securities fraud, insider trading and lying to auditors.

Skilling was released from federal custody last month.

Reporting by John Benny in Bengaluru; Editing by Shailesh Kuber

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up