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	Ben F. Glisan, Jr.: Lit. Rel. No. 18335 / September 10, 2003
		Glisan knew that Talon was not properly off Enron's balance sheet because it would not engage in hedging with transactions with Enron until LJM2 was no longer at risk.
		Glisan and others removed the risk by Enron and Talon entering into a "put," that is, a transaction that purportedly served to hedge Enron against a decline in its own stock value.
		Glisan was aware of the oral guarantee, as well as of the accounting goals driving the transaction.
	www.sec.gov /litigation/litreleases/lr18335.htm (747 words)

	Enron Treasurer's Plea Bargain May Cause 'Bloodbath'
		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.
		Glisan, a 37-year-old Clear Lake native, was widely rumored in 2002 to be one of the highest ranking Enron officials cooperating with the government.
		Glisan stated that he received about $1.04 million from the Southampton deal and paid $412,000 in taxes in April 2001, but that he didn't believe there was anything improper about the transaction at the time.
	www.truthout.org /docs_03/printer_083003F.shtml (913 words)

	Glisan: Lay worried about Enron problems - Boston.com
		Glisan, a onetime protege of former Enron Chief Financial Officer Andrew Fastow, is the last major government witness in its case against Lay and Skilling.
		Glisan is halfway through a five-year prison sentence for creating fraudulent financial structures known as Raptors, which he said Enron used to house poor assets and investments and hide losses.
		Glisan was among Fastow subordinates who participated in one of the scams the ex-CFO ran to skim millions from Enron.
	www.boston.com /business/articles/2006/03/22/ex_enron_treasurer_skilling_lay_lied (1172 words)

	Skilling's precise words not recalled - Newsday.com (Site not responding. Last check: 2007-10-24)
		Glisan also said he couldn't be sure Skilling knew that Glisan and other Enron insiders were using off-the-books partnerships to steal from the company.
		Glisan, 40, was the first witness in the eight-week-long trial to indicate that Skilling approved the publication of deceptive financial statements.
		Glisan, 2 1/2 years into a five-year sentence for securities fraud in a federal prison near Houston, is testifying under an immunity agreement with prosecutors.
	www.newsday.com /bal-bz.enron24mar24,0,7431586.story?coll=ny-top-span-headlines (351 words)

	Lawyer cross-examines ex-Enron treasurer - Boston.com
		But Petrocelli noted Thursday that Glisan told a grand jury in March 2004 that Skilling said at that meeting that he wouldn't enter into the Raptor structure "but for accounting rules" that required companies to take losses on assets that declined in value unless they were hedged by such structures, Petrocelli noted.
		Glisan also said he could not recall any notes, e-mails or other tangible proof that would support his testimony tying Skilling to fraud and conspiracy at the failed energy giant.
		Glisan was considered to be a key government witness -- the last of eight ex-Enron executives who have admitted to crimes to testify for the prosecution -- because of his knowledge of Enron's inner financial workings and his access to company founder Kenneth Lay and Skilling.
	www.boston.com /business/articles/2006/03/23/glisan_lay_skilling_misled_investors?page=2 (1142 words)

	Complaint: SEC v. Ben F. Glisan, Jr.
		Glisan was employed by Enron Corp. from 1996 until his termination for cause in November 2001.
		Glisan was aware of the Fastow guarantee and that Merrill Lynch's decision to participate in the barge transaction was based on the guarantee.
		Glisan warned Enron's business unit that if a buyer did not materialize by June 30, 2000 that Enron would need a "backstop" and advised the business unit that there were "ramifications" if Enron purchased the interest back from Merrill Lynch directly.
	www.sec.gov /litigation/complaints/comp18335.htm (2698 words)

	kdka.com - Enron's Glisan Has No Tangible Proof
		Ben Glisan, who was Enron's treasurer and the only former Enron executive to go straight to prison after pleading guilty to a crime, underwent a third day of questioning — and the first under cross-examination — in the trial of Skilling and company founder Kenneth Lay.
		Glisan pleaded guilty to conspiracy in September 2003 and was immediately incarcerated because he was not yet cooperating with prosecutors.
		Glisan said investor concerns were valid and described the company's condition as "dire." The company set up a special investor call the same day as the employee meeting to try to ease fears and protect its investment-grade credit rating, a lifeline that allowed Enron to more easily secure cash to do business.
	kdka.com /homepage/topstories_story_082141106.html (707 words)

	Online NewsHour Update: Former Enron Treasurer Gets Five-Year Prison Term -- September 10, 2003
		Glisan was then immediately taken into custody; there was no immediate information on where he would serve his prison term.
		Glisan had earlier pleaded not guilty to 24 counts of money laundering, wire fraud and conspiracy as part of the government's 109-count indictment against his former boss and Enron's former chief financial officer, Andrew Fastow, and other former Enron executives.
		Glisan is the highest-ranking Enron ex-official to plead guilty to federal charges, but he is not the first.
	www.pbs.org /newshour/updates/glisan_09-10-03.html (595 words)

	Enron chiefs lied, accountant says - The Honolulu Advertiser - Hawaii's Newspaper
		Glisan also said Enron's books showed its international asset portfolio was worth more than $10 billion — which was about $5 billion too high, according to Skilling's own estimate in a document shown to jurors earlier in the trial.
		Glisan is a key witness against Lay and Skilling, who claim there was no fraud at Enron and that negative publicity coupled with diminished market confidence fueled the company's December 2001 descent into bankruptcy protection.
		Glisan has been in prison since September 2003, when he admitted creating four fragile financial structures known as Raptors that he said Enron used to house assets and investments and to hide losses, making the company appear more successful than it was.
	the.honoluluadvertiser.com /article/2006/Mar/22/bz/FP603220324.html (656 words)

	Print Message
		Glisan came to the courthouse early Wednesday with family members and departed in custody -- chains around his ankles and wrists, a coat thrown over his hands.
		Glisan was one of the highest-ranking Enron officials before he was fired for his involvement in the Enron side deal Southampton, in which he invested less than $6,000 and reaped more than $1 million.
		Glisan pleaded guilty to a charge that he, along with Fastow, created a special-purpose entity called Talon, also called Raptor I. Talon engaged in improper hedging transactions with Enron, enabling the company to substantially improve its reported financial results.
	www.suite101.com /print_message.cfm/investing/74094/843347 (990 words)

	SignOnSanDiego.com > News > Business -- First ex-Enron executive sentenced to prison
		Glisan earlier had pleaded innocent to charges of money laundering, wire fraud and conspiracy as part of a 109-count indictment against his one-time boss, former Enron finance chief Andrew Fastow.
		Glisan, a managing director, was the second former Enron executive to plead guilty in the scandal.
		Glisan was fired in November 2001, less than a month before Enron went bankrupt, when an internal probe revealed he gained the $1 million from a $5,800 investment in one of several complex deals at the heart of the Justice Department's case against the Houston company.
	www.signonsandiego.com /news/business/20030910-1023-enron-glisan.html (667 words)

	ABC News: Defense Seeks to Weaken Glisan Testimony (Site not responding. Last check: 2007-10-24)
		Glisan told directors that Enron had immediate access to $1.5 billion in cash either in its coffers or from banks, and more was "under consideration by the company," which appeared to temper his testimony that he had given Lay a much darker financial forecast.
		Glisan Jr., is the government's last major witness in the fraud and conspiracy trial of Lay and former Enron Chief Executive Jeffrey Skilling.
		Glisan was considered to be a key government witness because of his knowledge of Enron's inner financial workings and his access to Lay and Skilling.
	abcnews.go.com /Business/wireStory?id=1773163&CMP=OTC-RSSFeeds0312 (414 words)

	Lay tried to shield Enron's ratings \| The San Diego Union-Tribune
		Ben Glisan Jr., a former Enron treasurer, continued his testimony yesterday at the Enron criminal trial in Houston.
		Glisan said Lay and Skilling knew Enron – then a reputed powerhouse – was actually weak and faced multibillion-dollar losses and writedowns on poorly performing or overvalued assets.
		Glisan also told jurors that Lay wanted to prevent a credit downgrade because it would make it more expensive for Enron to borrow millions to support its trading operation and could force debt repayment when little cash was available.
	www.signonsandiego.com /uniontrib/20060323/news_1b23enron.html (723 words)

	Scotsman.com Business - Latest News - Witness says Enron's Lay lied to credit agencies
		Glisan came out of prison to testify against Lay, 63, and former CEO Jeffrey Skilling, 52, who are on trial for conspiracy and fraud linked to the collapse of Enron in 2001.
		Glisan corroborated testimony from other witness in the trial that Lay was painting a rosy picture of the company's finances even though he knew it was near to imploding.
		Glisan is halfway through a five-year prison sentence he received after pleading guilty to a single conspiracy charge in 2003.
	business.scotsman.com /latest.cfm?id=454462006 (695 words)

	Houston's Clear Thinkers: The Glisan Deal
		Glisan reportedly was miffed with the BOP's assignment.
		Glisan's testimony helped place four Merrill Lynch executives in prison for doing their jobs in connection with the firm's purchase of a dividend stream for which Enron, not Merrill, may have improperly accounted, although even that issue was never proven during the barge trial.
		While Glisan should not (according to BOP policies) have been in a low security in the first place, a transfer to a camp with no significant change in his sentence is ultra-extraordinary.
	blog.kir.com /archives/002980.asp (1235 words)

	Enron Ex-Treasurer Says Lay Endorsed Accounting - New York Times
		Glisan is expected to face cross-examination from defense lawyers today later this afternoon or early on Thursday.
		Glisan is not credible because of the part he played in the fraud.
		Glisan pleaded guilty to one count of conspiracy to commit fraud and went to prison in September 2003; he is under no obligation to testify in this trial.
	www.nytimes.com /2006/03/22/business/businessspecial3/22cnd-enron.html?ex=1300683600&en=a3ac710218fe8d87&ei=5090&partner=rssuserland&emc=rss (985 words)

	Tyler Morning Telegraph - EX-ENRON TREASURER SAYS LAY HID BAD NEWS (Site not responding. Last check: 2007-10-24)
		Glisan, a one-time protege of former Enron Chief Financial Officer Andrew Fastow, is the last major government witness in its case against Lay and Skilling.
		Glisan also told jurors Wednesday that Lay wanted to prevent a credit downgrade, which would make it more expensive for Enron to borrow millions to support its trading operation and could force debt repayment when little cash was available.
		Glisan, on furlough from prison, had yet to be cross-examined.
	www.zwire.com /site/news.cfm?newsid=16355635&BRD=1994&PAG=461&dept_id=339096&rfi=6 (843 words)

	Scotsman.com Business - Latest News - Ex-Enron treasurer backs down on Skilling testimony
		Ben Glisan, 40, the former Enron treasurer who was brought from federal prison to testify against former CEOs Skilling and Ken Lay, admitted Skilling did not directly tell members of the Enron board of directors the deal was illicit.
		Glisan is the last in a string of witnesses who have been convicted for crimes at Enron, and is the only former executive currently serving a prison sentence.
		Glisan is halfway through a five-year prison term he received after pleading guilty to a single conspiracy charge in 2003.
	business.scotsman.com /latest.cfm?id=459442006 (639 words)

	Bloomberg.com: U.S.
		Glisan, 40, testifying at the fraud trial of Skilling and former Chairman Kenneth Lay, told jurors yesterday that the ex- CEO endorsed use of off-the-books partnerships to ``circumvent the accounting rules.'' Today, under cross-examination by Skilling lawyer Daniel Petrocelli, Glisan said he couldn't recall Skilling's exact words.
		Glisan is 2 1/2 years into a five-year sentence for securities fraud in a federal prison east of Houston.
		Glisan was first put in solitary confinement for almost two weeks, then placed in a low-security lockup, rather than a minimum-security camp.
	www.bloomberg.com /apps/news?pid=10000103&sid=aih2PRWANz9w (773 words)

	Chron.com \| Defense pecks at ex-Enron treasurer's story
		Glisan said he went to prison the day he pleaded guilty and though he expected a fairly lenient prison, he was in solitary confinement for 10 or 11 days.
		Glisan was then assigned to an 8-by-12 cell with two roommates in a Bastrop low-security facility, still not the minimum security he'd expected.
		Glisan, who could be released this fall in recognition of good behavior and credit from an alcohol program, is now housed at the Beaumont facility, though he is on a furlough to his home while testifying.
	www.chron.com /disp/story.mpl/front/3745004.html (1028 words)

	FORTUNE: Former Enron treasurer a powerful witness - Mar. 23, 2006
		Because Glisan, unlike other witnesses, went straight to jail after he pled guilty in the fall of 2003, the defense will have difficulty using the same argument that it has used with other witnesses -- which is that they're simply saying whatever the government wants to hear in a bid to reduce their sentences.
		As Glisan's testimony made clear, the defense's theory that all of Enron's problems were caused by Fastow and his rogue group, along with run-amok shortsellers and journalists, is a deeply problematic one.
		Glisan also testified that he told Lay in the fall of 2001, just after Fastow was fired, that he too had made money from Enron's partnerships -- he had netted $1 million from the Southhampton partnership off an investment of just under $6000.
	money.cnn.com /2006/03/23/news/newsmakers/enron_blog_fortune (1193 words)

	Ex-Enron official leaves prison to testify - The Enron Trial - MSNBC.com (Site not responding. Last check: 2007-10-24)
		Glisan, 40, looked like the CPA he used to be when he took the witness stand Tuesday.
		The government had a one-year window to file court papers asking that Glisan’s five-year term be reduced, but time for that ran out a year after he went to prison.
		Glisan can shave a few months from his sentence for good behavior, and is slated to be released in January 2008, according to the Federal Bureau of Prisons.
	www.msnbc.msn.com /id/6448213/did/11945674 (1080 words)

	Houston's Clear Thinkers: Lay-Skilling, Week Eight (Site not responding. Last check: 2007-10-24)
		That important fact was not revealed to the court and the jury during Glisan's key testimony in the earlier Enron-related Nigerian Barge trial in 2004 that resulted in four Merrill Lynch executives being sent to prison for the dubious "crime "of not sufficiently appreciating that Enron may not have accounted properly for an asset sale.
		The Task Force had presented Glisan in the barge trial as a witness whose testimony was particularly credible because he had not cut any deal with the government in regard to his testimony and was being compelled to testify under a grant of immunity.
		Glisan who was not a credible witness early on for the government when he pleaded guilty and went to prison at Bastrop FCI, and then had a change of perspective and then helped govt.
	blog.kir.com /archives/002982.asp (1868 words)

	Former Enron treasurer Glisan pleads guilty to charges - Sep. 10, 2003
		Glisan's guilty plea may be bad news for his former boss, former Enron Chief Financial Officer Andrew Fastow, who is named in the same 109-count indictment and is accused of being the architect of many of the misdeeds that brought about Enron's collapse.
		Glisan pleaded guilty to a single count of criminal conspiracy and was immediately sentenced to five years in federal prison.
		Glisan had been charged with two dozen counts of money laundering, fraud and conspiracy for taking part in one of the secret partnerships Fastow is alleged to have set up to inflate Enron's earnings and put millions of dollars in his own pocket.
	money.cnn.com /2003/09/10/news/companies/enron_glisan/index.htm (355 words)

	Enron Prosecutors Have Another Key Witness, From Jail - New York Times (Site not responding. Last check: 2007-10-24)
		Ben Glisan, in a prison uniform and with a federal marshal, at the federal courthouse in Houston for an Enron trial in 2004.
		Glisan, the former treasurer, is the last major witness for the government before the case shifts to the defense and to what promises to be memorable testimony by the defendants, Jeffrey K. Skilling and
		Glisan worked closely with Andrew S. Fastow, the former chief financial officer, on developing special-purpose entities, like the Raptors group, that both men have said in plea deals were used to inflate earnings and hide debt.
	www.nytimes.com /2006/03/20/business/businessspecial3/20enron.html?ex=1300510800&en=669123c2853f2634&ei=5088&partner=rssnyt&emc=rss (970 words)

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