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8 January 2007 -- An appeals court has overturned guilty verdicts for two former Westar executives convicted in 2005 of money laundering, wire fraud, circumventing internal controls and conspiracy.

Former Chief Executive David Wittig and former Executive Vice President Douglas Lake were accused of stealing more than $30 million from the Kansas utility, but have been released from all charges after a Denver-based court of appeals ruled 3-0 that the case "hung by a thin legal thread," and there was not enough evidence to uphold the conviction.

The decision is a major defeat for federal prosecutors who have faced difficulty in getting convictions against the two former executives, although some of the lesser charges of the overturned case can be retried. The executives left Westar $3 billion in debt and on the verge of bankruptcy.

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