The records show that in 1997, Enron shares made up more than 90 percent of his liquid assets.

Almost all of the money from the sales went toward paying down personal bank loans that were secured by the Enron shares.

Investors and employees lost billions when Enron shares became worthless.

Enron shares closed on Friday at $77, up 35 percent this year.

Enron shares, which were above $90 in August 2000, are now worth less than $1.

Enron shares fell 64 cents, or 7.1 percent, to $8.41.

Among them were Enron shares valued at as much as $30,000.

At the time, Enron shares were trading at almost $37.

Alliance, which owned 43 million Enron shares, did not return calls for comment.

In late November, he sold 50,000 more Enron shares for about $1 each.