Chief Executive Jeffrey Skilling are scheduled to go on trial in January 2006. According to a 485-page amended complaint filed by Enron investors in 2002, Citigroup and other banks hid loans, set up false investments and facilitated phantom sales, receiving multi-million dollar fees in return. Citigroup was accused of using its Delta subsidiary in the Cayman Islands to carry out $2.4 billion in financial "swaps" with Enron. According to the lawsuit, the swaps "perfectly replicated loans and were, in fact, loans," but were not disclosed on Enron's books. The energy trader emerged from bankruptcy proceedings last year but the company, now a private entity, is in the process of liquidating remaining assets to pay off part of its debts. --SP 2359 Local Time 2059 GMT
