Timothy Belden
Encyclopedia
Timothy Norris Belden is the former head of trading in Enron Energy Services
. He is considered the mastermind of Enron's scheme to drive up California
's energy prices, by developing many of the trading strategies that resulted in the California electricity crisis
. Belden pleaded guilty to one count of conspiracy to commit wire fraud as part of a plea bargain, along with his cooperation with authorities to help convict many top Enron executives.
Belden was sentenced on February 14, 2007, to two years of court-supervised release and must forfeit $2.1 million.
Federal prosecutors recommended probation because Belden cooperated in the case, assisting with the prosecution of senior Enron executives.
Both Jeff Richter and John Forney were sentenced to probation and fined (Richter $10,000, Beldon $4,000).
The maximum statutory penalty for conspiracy, in violation of 18 U.S.C. § 371, is five years in prison and a $250,000 fine. None of which are being met by Belden or the other convicted accomplices John Forney or Jeffery Richter. All three pleaded guilty to and were convicted of the same one count of conspiracy to commit wire fraud.
Belden was known to have received a $5 million bonus from Enron as a reward for the profits he extracted from California for Enron.http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2002/11/17/MN74145.DTL
He holds a master's degree in public policy from the Goldman School of Public Policy
at UC-Berkeley and spent five years working as a researcher at the Lawrence Berkeley National Laboratory.
In 2009, Belden founded Energy GPS LLC with Jeff Richter to "provide analysis and advice to clients in the energy industry"
Energy GPS LLC is based in Portland, Oregon.
Enron Energy Services
Enron Energy Services was a business unit of Enron Corporation, whose purpose was to provide gas, electricity, and energy management directly to businesses and homes. Enron compared the service to choosing a telecommunications company to provide your house with a phone line. Consumers would be...
. He is considered the mastermind of Enron's scheme to drive up California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
's energy prices, by developing many of the trading strategies that resulted in the California electricity crisis
California electricity crisis
The California electricity crisis, also known as the Western U.S. Energy Crisis of 2000 and 2001 was a situation in which California had a shortage of electricity caused by market manipulations and illegal shutdowns of pipelines by Texas energy consortiums...
. Belden pleaded guilty to one count of conspiracy to commit wire fraud as part of a plea bargain, along with his cooperation with authorities to help convict many top Enron executives.
Belden was sentenced on February 14, 2007, to two years of court-supervised release and must forfeit $2.1 million.
Federal prosecutors recommended probation because Belden cooperated in the case, assisting with the prosecution of senior Enron executives.
Both Jeff Richter and John Forney were sentenced to probation and fined (Richter $10,000, Beldon $4,000).
The maximum statutory penalty for conspiracy, in violation of 18 U.S.C. § 371, is five years in prison and a $250,000 fine. None of which are being met by Belden or the other convicted accomplices John Forney or Jeffery Richter. All three pleaded guilty to and were convicted of the same one count of conspiracy to commit wire fraud.
Belden was known to have received a $5 million bonus from Enron as a reward for the profits he extracted from California for Enron.http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2002/11/17/MN74145.DTL
He holds a master's degree in public policy from the Goldman School of Public Policy
Goldman School of Public Policy
The Richard and Rhoda Goldman School of Public Policy is a public policy school and one of 14 schools and colleges at the University of California, Berkeley. Originally named the Graduate School of Public Policy, it was founded in 1969 as one of the first public policy institutions in the United...
at UC-Berkeley and spent five years working as a researcher at the Lawrence Berkeley National Laboratory.
In 2009, Belden founded Energy GPS LLC with Jeff Richter to "provide analysis and advice to clients in the energy industry"
Energy GPS LLC is based in Portland, Oregon.