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Indicted ex-Enron Treasurer Ben Glisan Jr. is negotiating a plea bargain and cooperation agreement with federal prosecutors.
Glisan, one of the highest ranking Enron officials before he was fired for his involvement in a side-deal, is charged with two dozen counts of money laundering, fraud and conspiracy. His charges are part of a 109-count indictment against Glisan, former Enron Chief Financial Officer Andrew Fastow and former Enron executive Dan Boyle.
"When Glisan flips, this could be a bloodbath," said one lawyer familiar with the Enron investigation. Glisan was installed as Enron treasurer in 2000 and was known as a protege of both Fastow and ex-CEO Jeff Skilling.
Glisan's Washington, D.C.-based attorneys, Henry Schuelke and William Shields, met behind closed doors Tuesday with three Enron Task Force prosecutors and U.S. District Judge Kenneth Hoyt. Such a meeting, especially without counsel for co-defendants, is often a prelude to a cooperation agreement. The judge has made public the broad topics of two other secret conferences in this case, but his public notes on the Glisan meeting did not say why they met.
Don't get depressed now.