Barclays Denies Cheating Enron Investors

LONDON -- Britain's Barclays Capital denied on Tuesday that it helped Enron Corp. to cheat investors, The Associated Press reported.

Barclays Capital, the investment banking arm of Britain's third biggest bank Barclays Plc, was responding to a report filed in the United States on Monday by bankruptcy examiner Neal Batson.

Batson said Barclays was one of six banks that knew of wrongful conduct related to Enron's transactions. The banks, which include Citigroup Inc and J.P. Morgan Chase & Co., risk losing their claims on more than $5 billion owed by the company, Batson said.

"We don't believe there is any evidence to support any suggestion that we participated in any effort to mislead anyone," said John Anderson, a spokesman for Barclays Capital. "When this is looked at in an objective fashion, our conduct will be deemed proper."

-- NYSSCPA.org News Staff

Posted on 7/29/03