4 Ex-Merrillistas’ convictions overturned

Go effen figure…..an appeals court has tossed out the convictions of conspiracy and wire fraud against four ex-Merrill Lynch executives who were found guilty in a 1999 scheme to improperly boost Enron's earnings.

The 5th U.S. Circuit Court of Appeals in New Orleans announced late Tuesday that the charges of fraud against former Merrill Lynch executives James Brown, William Fuhs, Daniel Bayly and Robert Furst were "flawed" and vacated their convictions.

The panel upheld, however, a conviction of perjury and obstruction of justice against Brown.

"The Justice Department is reviewing the decision and considering our options," said spokesman Bryan Sierra, declining to comment further on the blow to the first case the Enron Task Force tackled.

Attorneys for the former Merrill Lynch employees could not be reached for comment.

The 5th Circuit is considered one of the most conservative appeals courts in the nation, and lawyers who have tried cases there say it is stunning when a reversal occurs.

http://www.chron.com/disp/story.mpl/business/4088364.html