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HOUSTON — A federal appeals court says the retrial of three former Merrill Lynch & Co. executives connected to an Enron Corp. deal would not violate their constitutional protections against double jeopardy.
The 5th U.S. Circuit Court of Appeals on Tuesday upheld a Houston federal judge's 2008 ruling that Daniel Bayly, James A. Brown and Robert S. Furst can be retried.
All three are accused of helping push through Enron's sham sale of three power barges moored off the coast of Nigeria to the brokerage in 1999. The deal inflated earnings in Enron's energy division.
They were convicted in 2004 of conspiracy and wire fraud. But the 5th Circuit, based in New Orleans, threw out their convictions in 2006 after finding fault with the government's legal theory in the case.
