Merrill Lynch settles criminal probe

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Thursday, Sept. 18, 2003 | 9:16 a.m.

HOUSTON -- Merrill Lynch & Co., in an agreement with prosecutors that let it avoid criminal charges over its role in the Enron debacle, promised on Wednesday not to engage in business deals -- even legal ones -- that help companies mislead investors about their financial condition.

The resolution in the corporate case came as three former senior Merrill executives were indicted on charges of conspiracy, obstruction of justice and perjury for their roles in one of the transactions, the purported sale by Enron to Merrill of an interest in power barges moored off the coast of Nigeria.