Wall Street

Online Stock Market Trading Jeff Skilling, the former chief executive of Enron, has been charged with 42 counts of fraud, insider trading and giving false statements to auditors in a federal indictment released today. The indictment also includes new charges against former Enron chief accounting officer, Rick Causey, who pleaded not guilty to six fraud counts last month.

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Stock Investing Course The charges come after Mr Skilling, 50, surrendered himself to the FBI at their headquarters in Houston, Texas, accompanied by his lawyers.

Indeed, reporting scandals such as Enron turning a spotlight on transparency and accuracy, now more than ever the issue is coming to a head. Those who disregard responsibility to shareholders face tough penalties, and potentially, a jail term. For example the former boss at biotechnology outfit ImClone Systems was held in custody by the federal authorities after charges of conspiracy, securities fraud and perjury were brought.

Stock Market Game Citing personal reasons, Mr Skilling resigned from Enron in August 2001, four months before the company filed for bankruptcy. His abrupt departure from Enron marked the beginning of the end for the energy company that had won plaudits on Wall Street for its "innovative" financial practices.

It's tough enough finding the right gifts for your spouse, kids and parents during the holidays. What do you do when you need to buy presents for your boss, giving in the office can be a tense venture fraught with pitfalls, peer pressure and subtle protocol. Those new to a business, in particular, giving is the norm. When your boss walks over to your cubicle with a fancy fruit basket, a return gift of a stapler hastily wrapped in the Wall Street Journal might raise a few eyebrows.

Stock Investing Game Enron's collapse, the first in a series of financial scandals that rocked Wall Street and corporate America, also embarrassed the White House because of the company's close ties with the Bush administration. Enron, based in Houston, was a big contributor to Mr Bush's presidential election campaign.

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Journal Prime Rate Street Wall Mr Skilling is the most senior Enron executive so far to face criminal charges. He is the 28th individual to be charged in a two-year federal investigation, which passed its two-year mark last month.

Stock Market News In 2002, Mr Skilling maintained during testimony before two congressional panels that he believed Enron was financially healthy when he stepped down. Mr Skilling's former boss, Enron founder and former chairman Kenneth Lay, has not been charged.

Stock Investing Basics Mr Skilling handed himself in just a month after former Enron finance chief Andrew Fastow pleaded guilty to two counts of conspiracy and agreed to help prosecutors. He is now out on bail pending formal sentencing and faces a maximum of 10 years.

Stock Investing Software Mr Fastow, who was hired by Mr Skilling admitted that he and others manipulated Enron's books so the company would appear successful while using various partnerships to enrich himself, his family and chosen colleagues. When he was indicted on nearly 100 counts in October 2002, Mr Fastow's lawyers said he was hired to do off-the-books financing and that Enron's top brass approved and praised his work.

Stock Market Trading A week after Mr Fastow's plea, former Enron chief accounting officer Rick Causey was indicted on six fraud counts, but he pleaded not guilty and was released on $1m bail. Mr Causey's indictment mentioned that Mr Lay and Mr Skilling, identified by title rather than name, were among "the principal managers of Enron's finances" and accused Mr Causey "and others" of lying about earnings.

Stock Investing For Dummy Mr Skilling joined Enron in 1990 and quickly moved up the company. He was promoted to chief executive officer in February 2001, replacing Mr Lay, who stayed on as chairman. He helped transform Enron from a staid pipeline company into a trader that combined the energy business with new technologies at the height of the internet boom.

Stock Market Crash At its zenith, Enron was the seventh largest company on the Fortune 500 list. But in August 2001, after just six months, Mr Skilling suddenly resigned, saying he wanted time to enjoy life.

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