Enron papers shredded in alleged financial irregularities

The death of former vice-president of bankrupt American firm Enron is being described as a major blow into the investigation of the collapsed energy firm.

Cliff Baxter, 43, shot himself in the head in his car in Texas yesterday.

It was hoped he would be able to provide information into the affairs of what is now being described by some experts as potentially the biggest financial scandal in the world.

Mr Baxter resigned from his position in Enron in May 2000 as he may have been concerned with the position of the company.

He warned executives of serious financial irregularities which are now under investigation by congress and lawyers.

It has been reported that many of the company’s documents have been shredded and some accountants have pleaded the Fifth Amendment in order not to incriminate themselves.

Lawsuits are expected by employees, many of whom have lost their pensions.

It has also been claimed by financial experts that people will end up in gaol.