• Quick note - the problem with Youtube videos not embedding on the forum appears to have been fixed, thanks to ZiprHead. If you do still see problems let me know.

Enron Jury Verdict in...

Guilty on All Counts

They found him guilty on all counts. Just heard it from a co-worker.
 
lay_counts6.jpg


skilling_counts_28.jpg
 
Jeffrey Skilling was convicted of conspiring to deceive investors while chief executive officer of Enron Corp., a verdict that may put him in prison for the rest of his life.

The eight-woman, four-man federal jury in Houston hasn't announced its verdict on insider trading charges against Skilling or the fate of his co-defendant, former Chairman Kenneth Lay. U.S. District Court Judge Sim Lake heard evidence on separate bank fraud charges against Lay without a jury. Lake said he will announce his verdict in that case later.
Click to expand...

Bloomberg

Office rumors not reliable.
 
Go directly to jail. Do not pass Go.

Figure the odds. These bastards will probably be given six months to get their personal affairs in order before having to report to a country club prison.

You or me, we'd be in the van on the way to prison before the echo from the judge's hammer had faded.
 
"Your Honor, I need six months to stash all my millions in Swiss banks."
 
jj said:
I have to say, Luke, sometimes your brand of cynicism is warranted.
Click to expand...

My cynicism in this case is based on the fact Worldcom's Ebbers was given time to get his affairs in order before having to report to prison.

But at least he got 25 years. I said at the time of Ebbers' verdict that his conviction and sentence must have had Lay quaking in his boots.

Heh.
 
Lay borrowed several million dollars from a bank with the condition that the money could not be used to buy stock. He bought stock with it. Part of his defense on that charge was that he had not read the fine print in the loan contract. If I had been the judge and a chief executive in a multi-million dollar corporation said he didn't read the fine print on a multi-million dollar loan, I would have said, "bailiff, whack his pee-pee." I think he should get extra time for such an insulting defense.
 
I have to admit I'm mildly surprised they got so many guilty counts. I haven't seen the actual verdict, but I'm interested which one insider trading count Skilling was convicted for.

Somewhere, probably on the Houston Cronicle site, Skilling defense has already said they would pursue an appeal.

Justice has been done today, folks. I wonder how much of a hit this was to Lay's and Skilling's egos.
 
Well, it's too bad Clinton's not still president. Lay could certainly afford to buy a pardon.
 
You must log in or register to reply here.

Back
Top Bottom