Investigators believe this may suggest that the Enron lawyers were aware that Barclays' money was not true equity at risk.

The settlements, which the Enron lawyers said had been covered by indemnity insurance, total about $60 million, plaintiff lawyers estimated.

This could be done in a variety of ways, Enron lawyers explained in internal memos.

But for a time, as federal regulators refused to take action, Enron traders reaped huge profits, the memos from the Enron lawyers indicate.

"The profit is made by shorting the ancillary services, i.e., sell high and buy back at a lower price," the Enron lawyers wrote.

In the documents, the Enron lawyers said that many of the same tactics were used by other energy companies doing business in California.

Robert Crist Vial, a lawyer for one creditor in the R&C bankruptcy case, said in-house Enron lawyers monitored some of the legal proceedings.

The trading pattern was eventually discovered in 2000 by Enron lawyers, who interviewed Mr. Belden about his strategies.

A1 Mr. Lay used his company stock to repay a loan last year, an Enron lawyer said.

They took with them "a large, large quantity" of hard drives and documents, Mr. Bennett, the Enron lawyer, said.