Charles Fishkin, 44, the Securities and Exchange Commission's chief of risk assessment who gets paid $180,084 annually to ferret out red flags of fraudulent accounting wound up unknowingly buying as many as 100 shares of the corrupt energy-trading company.

Enron had been the nation's biggest energy trader when it collapsed in 2000 amid widespread accounting fraud and cover-ups, triggering criminal charges for top brass, including former chief Ken Lay.

Enron shareholders lost a staggering $68 billion, leaving a bankrupt, worthless shell.

SEC filings said that Fishkin apparently lost his shirt on his shares, which he listed in a disclosure form as being worth "less than $1,000."

When Enron peaked in August 2000 at $90 a share, 100 shares would have been worth $9,000. Currently, the defunct shares are valued about two cents each, or a $2 stake.

Fishkin had no comment on the disclosures, made in connection with his accepting the SEC post in July.

Fishkin joined the SEC from Fidelity Investments, where he earned $297,062 as chief of risk, and owned a retirement portfolio including shares of Enron, Harley-Davidson, Microsoft and ConAgra Foods.

The SEC recruited him for its new watchdog unit created at the behest of SEC boss Bill Donaldson so that his agency could get early warnings of any big scandals.

SEC officials think Fishkin's experience may give him special insight.

"Too many people got caught up in the Enron wave and when big companies come crashing down a lot of people get hurt," Peter Derby, an SEC managing executive who hired Fishkin from among 338 candidates, told Bloomberg News.

"Our agency's focus and Charles's job is to try to identify existing and emerging risks so we can get in there early and try to prevent or minimize future problems," Derby said.