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Enron's in-House Security Team to Leave and Form Own Private Firm

HOUSTON (AP) - Enron's top security team - an in-house agency that protected executives and sniffed out employee misconduct - is leaving the company to form a private consulting firm.

An Enron spokesman said Tuesday the move is unrelated to accusations that Enron executives hid financial problems from investors and that employees shredded documents after the company filed for bankruptcy.

The new firm, Secure Solutions International, will continue security work for Enron through a consulting contract, spokesman Vance Meyer said.

After Enron filed for bankruptcy, the security officers faced the possibility of being laid off and began to consider forming an independent firm, Meyer told the Houston Chronicle in Wednesday's editions.

John W. Presley, a former FBI agent who was Enron's director of corporate security and will lead the new firm, could not be reached by The Associated Press for comment Wednesday. Neither Presley nor the security firm he is developing has a listed number.

The team also includes four former CIA officers and a former investigator for the Florida Department of Environmental Protection.

Andre Le Gallo, a business intelligence consultant in California, said the former agents' switch to private consulting is not unusual in the security industry, especially in light of Enron's collapse.

"I'm sure they moved because they found better things to do than at a sinking firm," he said.

-- Anonymous, January 23, 2002

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The new firm, Secure Solutions International, will continue security work for Enron through a consulting contract, spokesman Vance Meyer said.

Not good to have your first client be a company going out of business.

-- Anonymous, January 23, 2002