Enron Assistant Treasurer Pleads Guilty

By: Associated Press
By: Associated Press

A former assistant treasurer at Enron says he is guilty of conspiracy.

Timothy DeSpain, assistant treasurer at Houston-based Enron from 1999 to 2002, entered the plea on Tuesday. He's accused of making Enron's financial picture appear rosier than it really was.

Sentencing is set for February 18th. DeSpain could receive up to five years in prison and up to a 250-thousand dollar fine on the single count of conspiracy to commit securities fraud.

The Justice Department says DeSpain was in charge of keeping Enron in touch with credit-rating agencies. He also was allegedly involved in schemes intended to make Enron's finances appear healthier than they were to attain investment-grade credit ratings.

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