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Former High-Ranking Enron Executive Has Committed Suicide

Aired January 25, 2002 - 11:48   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN, CNN ANCHOR: The Enron scandal continues to unfold with disturbing developments. This time out of Sugarland, Texas, where police tell us a former very high ranking executive at Enron apparently has committed suicide.

Let's go to our Allan Chernoff, who has been following the Enron story.

He's in New York.

Allan, what do you know?

ALLAN CHERNOFF, CNN CORRESPONDENT: That's right, Daryn, we do have confirmation from the Sugarland, Texas police that John C. Baxter was found dead this morning at 2:23 a.m. He was inside a vehicle that was parked between two median, and a suicide note was found at the scene. The police say there was no fowl play. An ID was found on Mr. Baxter, indicating that he was an Enron employee. Now John C. Baxter resigned on May 2nd of last year as vice chairman of Enron, but he did remain on as a consultant to the company.

He joined the company in 1991 as chairman and CEO of Enron North America, according to background that we have. Now he did become vice chairman of the corporation in October of 2000. The family, we understand from the Sugarland police, has been informed.

Again, John C. Baxter as found dead at 2:23 a.m. this morning, and it appears that in fact it was a suicide.

Daryn, back to you.

KAGAN: Allan, do we have any word if this man -- if he had been subpoenaed as part of these congressional hearings, or was implicated in any of the investigations.

CHERNOFF: Daryn, we just don't know exactly about that yet. So we can't give you an answer right now on that.

KAGAN: But once again, we do know he was former vice chairman of Enron.

Cliff Baxter, found dead in his car in Sugarland, Texas.

Allan, thank you very much. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com