New York: A former Enron finance executive, long considered by federal officials as a crucial potential witness in the criminal inquiry into the company's collapse, has agreed to plead guilty to at least two acts of felony and co-operate in the investigation.

In what would be the first admission of guilt in the case, Michael J Kopper is scheduled to enter pleas before Judge Ewing Werlein Jr in Federal District Court, Houston, on August 21, 'The New York Times' reported.

Under the terms of the agreement reached between the investigators and Kopper, the former Enron executive will surrender 12 million dollars of illegally obtained money and plead guilty to wire fraud and money laundering, the daily said.

While it is the first time criminal charges have been brought in the Enron investigation against a former company executive, the Securities and Exchange Commission (SEC) is expected to file a civil fraud complaint against Kopper, 37, a former managing director in the Enron's global finance unit.

Although Kopper had so far remained outside the national spotlight since the company filed for bankruptcy protection, the transactions worked out by him became the centrepiece of the criminal investigation.

He was a primary participant in establishing and running the off-the-books partnerships, investigators have said.

PTI