Energy executives indicted

Thursday, June 12, 2003 | 9:49 a.m.

HOUSTON -- Three former Dynegy Inc. executives were charged in a federal indictment unsealed today with conspiracy and fraud for their roles in accounting transactions that regulators say improperly boosted the energy company's cash flow and lowered its taxes.

In addition, the Securities and Exchange Commission filed a civil lawsuit agsinst the three people.

"These defendants are accused of withholding the truth about Dynegy's true fiscal condition from the SEC, shareholders and the public," U.S. Attorney Michael Shelby said.

Named in the indictment were Jamie Olis, 37, Dynegy's former senior director of tax planning; Gene Shannon Foster, 44, former vice president of tax; and Helen Christine Sharkey, 31, a former member of Dynegy's risk control and deal structure group.

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