Enron Accountant Settles, Will Cooperate

The Securities and Exchange Commission charged Enron's(ENRNQ Quote) former chief accounting executive, Wesley H. Colwell, with violating antifraud laws.

Without admitting or denying any wrongdoing, Colwell agreed to be barred from acting as an executive of a public company and will pay $300,000 in disgorgement and a $200,000 penalty, while still cooperating with the SEC probe into the fallen energy company.

"Colwell, along with others at Enron, engaged in a wide-ranging scheme to defraud by manipulating Enron's publicly reported earnings through a variety of devices designed to produce materially false and misleading financial results," the SEC said in a statement. ...