Enron's former treasurer turned convicted felon said he always thought frenzied sale of three barges to Merrill Lynch and Company at the end of 1999 was "blatantly wrong."
Ben Glisan Junior testified yesterday in the ongoing fraud and conspiracy trial of four former Merrill Lynch executives and two former midlevel Enron executives.
U.S. District Judge Ewing Werlein granted a request from prosecutors that Glisan receive immunity from being charged with any other crimes during his tenure at Enron and compelled Glisan to testify. He'll continue today.
Defendants contend Enron was never obligated to find a buyer for or buy back the barges.
The 39-year-old was indicted in May 2003 on two dozen counts including money laundering, fraud and conspiracy. A year ago he pleaded guilty to one count of conspiracy and is one year into a five-year prison sentence.