State Senator finds vindication after Enron convictions.THE guilty verdicts last Thursday in the conspiracy and fraud cases against Enron founder Ken Lay and former chief executive Jeffrey Skilling won't help Californians recover any money, but some here are feeling a measure of vindication VINDICATION, civil law. The claim made to property by the owner of it. 1 Bell's Com. 281, 5th ed. See Revendication. . West Coast utilities are still trying to recover $2 billion from Enron stemming from the 2002 electricity crisis. State Sen. Debra Bowen Debra Bowen (born October 27, 1955) is a California politician from the Democratic Party. She has been California Secretary of State since January 8 2007. Prior to becoming Secretary of State, she was a member of the California State Legislature from 1992 to 2006. , D-Redondo Beach, who chaired the Senate energy committee during the energy crisis, said Lay and Skilling ran a Ponzi scheme A fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time. . "They ripped RiPPED are an alternative rock band from Burlington, Ontario, Canada on Sextant Records/EMI Distribution. The band formed in 1994, and were originally called "Ripped Emotions". off millions of California ratepayers, and cost thousands of people not just their jobs, but their hard-earned pensions as well," Bowen said. "Sending them to jail won't undue any of that, but it's a lot better than watching them laugh their way to the bank and lining up tee times with our money." Staff reporter Kate Berry can be reached at (323) 549-5225, ext. 228, or at kberry@labusinessjournal.com |
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