Investigation

Former Enron executive denies fraud charges

Former Enron Corp. chief financial officer Andrew Fastow pleaded innocent Wednesday to a 78-count federal indictment charging him with masterminding complex financial schemes that enriched him and helped doom the energy trading powerhouse.

Fastow, ousted a year ago as Enron spiraled toward bankruptcy, was initially charged Oct. 2 and indicted on Halloween on various counts of fraud, money laundering, conspiracy, obstruction of justice and other charges.

Lawsuit

Cable company accuses Deloitte of negligence

Adelphia Communications sued its former accountants Wednesday, accusing Deloitte & Touche of failing to report “self-dealing and financial chicanery” by founder John J. Rigas and family members that sent the nation’s sixth largest cable television company spiraling into bankruptcy.

The lawsuit accused Deloitte of professional negligence and breach of its contract with Adelphia.

Utility

Westar pulls members from ONEOK board

Topeka-based Westar Energy announced Wednesday that its two representatives have resigned from the board of directors of ONEOK, an Oklahoma utility company that is partially owned by Westar.

Douglas Lake, Westar Energy’s executive vice president and chief strategic officer, and John Dicus, president and chief operating officer of Capitol Federal Savings Bank, resigned from the board of directors.

The two agreed to resign from the board because Westar is seeking to sell its 45 percent stake in the company.

Topeka

Cap-Fed posts earnings

Topeka-based Capitol Federal Savings announced Thursday that earnings for its fiscal year and fourth quarter increased compared to a year ago.

The company, which operates several locations in Lawrence, announced year-end earnings of $1.22 per share compared to 99 cents per share a year earlier. For the fourth quarter, which ended Sept. 30, the company posted results of 36 cents per share versus 25 cents per share a year earlier.

Also on Thursday, Topeka-based Protection One announced a quarterly loss of 6 cents per share compared to a loss of 25 cents per share a year earlier.