Banks to Pay $300 Million in Enron Settlement Story aired: Tuesday, July 29, 2003
Although the Enron Corporation has gone belly-up, the company's financial doings are continuing to come under intense scrutiny. After a year and a half investigation, two banks Citigroup and J.P. Morgan, will pay a total of $305 million in fines although the banks say they did nothing wrong.
SEC officials say the banks helped Enron deceive investors by hiding billions of dollars in loans.
Also today, a separate investigative report by the Senate Finance Committee accuses Enron of conducting illegal practices in Guatemala throughout the 1990s.
