Chief of Former Enron Unit Cleared
LONDON (AP) _ Police cleared the chief executive of Wessex Water Ltd. of suspected fraud on Tuesday after investigating an allegation that he received a $1.5 million payment during negotiations on the company’s sale.
London fraud police cleared Colin Skellett after concluding that no crime had been committed. In addition, police cleared a second, unidentified man in the case.
Skellett, who also was Wessex Water’s chairman, was released on bail in August after his arrest for questioning about an alleged fraud involving what police said at the time was a ``questionable payment″ worth nearly $1.5 million. Skellett wasn’t charged with any crime.
YTL Power International of Malaysia bought Bath-based Wessex Water in May from Azurix Europe Ltd., a unit of collapsed energy giant Enron Corp., for 1.24 billion pounds ($2.05 million).
Skellett said police confirmed his initial statement that he had had no influence on the selection of YTL as the successful bidder.
``I am just amazed it took them so long,″ he said.
Wessex Water attracted several bidders when it came up for sale last year. It provides water to 1.2 million people in 513,000 households across southwestern England and sewage service to about 2.5 million people in the same area.
Skellett has been chief executive since 1988 and has held a series of operational and management posts with Wessex Water since 1974.