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THE ENRON FIASCO

Saturday 26 January 2002 01:12:01pm

ENRON BOSS BLOWS HIS BRAINS OUT

By Mark Dowdney

THE ex-chief of bankrupt US giant Enron was found dead yesterday from gun shot wounds.

Police believe Clifford Baxter, the company's former vice chairman, committed suicide.

The 43-year-old executive was found in his car in Houston, Texas. He died from a single gunshot to the head.

Local police chief David Moscarelli said a note was found in the car but refused to say what it said.

Baxter's death comes just a day after a US Senate committee began hearings into the energy firm - and what may become one of America's biggest financial scandals.

Company chairman and chief executive Ken Lay, who resigned this week, is a close friend of President George Bush.

Baxter's role in the affair is unclear. But one employee said: "He knew where all the skeletons were."

Shocked colleagues said they thought he was "guilt ridden" over the 900 hidden off-shore bank accounts set up by executives in a complicated scheme to boost its share price.

Mike Miller, who worked with Baxter at Enron - America's seventh biggest company - said: "Cliff epitomised the company - he was creative, hard charging and goal orientated but honest and straightforward."

Baxter was one of 29 executives named in a civil suit filed by employees who lost hundreds of millions of dollars when the stock price collapsed from 80 dollars to 60 cents. The firm went bust last year.

President Bush has come under attack for his close links to the scandal-hit firm. Enron was the largest donor to his Republican campaign funds.

FROM: http://www.mirror.co.uk/

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