This is Bob Doughty with the VOA Special English EconomicsReport.

The large American energy services company, Enron, failed twoyears ago. It had been the seventh largest company in the UnitedStates. More than twenty people have been charged with financialcrimes related to the company's hidden debt, inflated profits andaccounting tricks.

On January twenty-second, Enron's former chief accounting officerfaced charges of helping Enron cheat investors and others. RichardCausey said he is not guilty. He says he believed all of Enron'sfinancial records were correct. He says he followed rules called theGenerally Accepted Accounting Standards.

The government says Mister Causey used his knowledge ofaccounting to make Enron look profitable. The government says MisterCausey sought to gain from his actions by causing the price of Enronstock to increase.The government has charged Mister Causey withplanning businesses related to Enron, called partnerships. Enronused financial exchanges with partnerships to hide big financiallosses. The government says these exchanges do not meet therequirements for real business exchanges. This is because onlyEnron's money was at risk.

Mister Causey is an important person in the Enron case. Thecharges came soon after another top official of Enron agreed to adeal.

Andrew Fastow was the chief financial officer at Enron. OnJanuary fourteenth, he admitted guilt for two criminal acts. He willbe sentenced to ten years in prison. Fastow had faced more thanninety separate charges. The deal depends on evidence he will offerin the future.

Fastow admitted that he hid the financial situation at Enron byusing partnerships. He admitted using partnerships for his own gain.He has been forced to return more than twenty-three-million dollarsand other property to the government. Lea Fastow, Mister Fastow'swife, also admitted to one charge of avoiding taxes on money madefrom one partnership.

Fastow and other former Enron officials have admitted guilt. Theyare expected to give evidence that will be used against MisterCausey.

What is different between the two cases is that Mister Fastow hasadmitted to cheating Enron. Mister Causey is charged with cheatinginvestors and others.

This VOA Special English Economics Report was written by MarioRitter. This is Bob Doughty.