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Ex-Enron Trader To Pay $2M To Employees

Law360 (December 12, 2006, 12:00 AM EST) -- A former energy trader for now-bankrupt Enron Corp. convicted of manipulating energy prices in California has agreed to pay $2.1 million to the company’s employee committee.

As part of a forfeiture agreement with the federal government, Timothy Belden will “forfeit his wrongfully accelerated deferred compensation and bonus payments” to the Enron Employee Committee.

“Justice will be served through the recovery of funds wrongfully taken in the months preceding Enron's collapse by one of its top executives,” said Ronald R. Sussman, partner in the Bankruptcy & Restructuring...
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