Posted on 05/25/2006 9:12:49 AM PDT by zarf
May 25, 2006 — The jury in the fraud and conspiracy trial of former Enron executives Ken Lay and Jeffrey Skilling has both men guilty of all charges against them.
Lay, 64, was convicted on all six counts including conspiracy to commit securities and wire fraud.
Skilling, 52, was convicted of conspiracy to commit securities and wire fraud.
Jurors spent six days deliberating after more than three months of testimony from 54 witnesses.
Lay faces up to 165 years in prison; Skilling faces up to 275 years in prison.
Lay founded Enron in 1985 and was its CEO for more than 15 years. Skilling joined the company in 1990, became its CEO in February 2001, and resigned abruptly in August 2001, citing family reasons.
They were both credited with building Enron into a powerhouse, which was hailed for its creative management, but their names became associated with the wave of corporate scandals that followed Enron's demise.
Before its fall in December 2001, Enron had grown to be a major energy trading company with assets at one point estimated at $100 billion.
Its stock, which in early 1998 traded at approximately $30 per share, had risen to more than $80 per share. Enron was ranked the seventh-largest company in the United States by the leading index of the Fortune 500.
yeah. like i'm ever so surprised - can you say "kanga-roo"?
White mofos are all guilty, bro!
Good grief.
Oh, by the way, Joel Steinberg has served his time, and is enjoying his freedom downstate.
And Mary Jo couldn't be reached for comment.
Wow! Both will spend the rest of their days in the slammer.
I guess the "ostrich" defense wasn't very convincing.
YESSSSSS!!
I got a few friend who worked at enron. They to a man favor no jail time. But public hanging is a different matter.
What on earth do you consider to have been "kangaroo" about the court, Judge Lake, or the proceedings?
It was a very fair trial; you're right, lets hear exactly what the poster considers "kangaroo" about it.
This is the best news I've had all day!
'splain yourself Lucy...
wewl ricky..;-)
these guys are scapegoats. I happen to think that they probably ARE guilty, but it really didn't matter. they could have been innocent. can you imagine the uproar had they been found NOT guilty?
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Let me get this right....you believe they are guilty but think that they are scapegoats because the jury thought so too? Wow.
hey! i never said that i was sane, did i>:-)?
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Self-awareness is a good thing...
I wonder if Ken Lay had any idea he was going down?
This is great for the Bush Administration. Cleaning up another Clinton era scandal. While Clinton fiddled, Enron sizzled! Now they are getting their just rewards courtesy of the Bush Administration.
uh uh. This scandal may have percolated while Clinton was president, but, the undeniable and embarassing fact remains that Lay had deep and lengthy ties to our president George W. Bush.
No matter, the most important thing is that Lay is getting his just desserts.
I understand your sentiments but isn't the truth the most important thing? Thousands of people lost everything they worked their entire lives for because of Enron, and it's important that every aspect of this story come out in order to avoid a repeat performance.
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