Jurors reach verdict in trial of Enron executives Kenneth Lay & Jeffrey Skilling(Read at 12:00EST)

CNN.com ^ | 5-25-06 | CNN

[COEXERJ145]

Breaking on CNN.

[COEXERJ145]

I'll find a source as soon as possible.

[COEXERJ145]

Verdict to be read at 12:00 Eastern time.

[LS]

Guilty! They revealed the identity of Valerie Plame.

[for-q-clinton]

Too bad they didn't hide their evidence in a congressional office. Then it would be off limits.

[zarf]

Break out the comfy chair!

[sono]

Verdict to be read at 12 noon ... Media Frenzy to follow.

[weezel]

If it's guilty, how long will ken lay live? Or do yall think that klinton got all those millions for books?

[MplsSteve]

This will be interesting.

The jury wasn't out very long - was it? That seems to bode badly for Ken Lay.

If the jury was out longer than expected, it'd seem as though he would be found not guilty or there'd be a hung jury.

Opinions or comments - anyone?

[Dog Gone]

FR didn't follow the trial at all, which was a little surprising. It obviously has been front page news here in Houston for a couple of months.

There will actually be two sets of verdicts, those determined by the jury, and those determined by Judge Sims. I suspect they will all be rendered at the same time, although they don't have to be.

[COEXERJ145]

Enron Jury Reaches Verdict

[TommyDale]

More importantly, how long will Ken Lay's assets remain intact? A lot of legal minds are curious if this might be the end of the "limited Partnership" asset protection, where he has buried all his wealth.

[Jaded]

And then the appeals.....

[Dog Gone]

Enron verdict scorecard

Copyright 2006 Houston Chronicle

On paper, it may appear the maximum prison sentences former Enron executives Jeff Skilling and Ken Lay could face if convicted on all counts add up to many, many decades. In reality, however, experts say the men would probably see sentences of between 12 years and 25 years if they were convicted on all charges. This includes Lay's bank charges, which were tried separately.

Jeff Skilling

COUNT	CHARGE	MAXIMUM SENTENCE (YEARS)	VERDICT
1	Conspiracy to commit securities and wire fraud	5
2	Securities fraud (Raptor transactions)	10
14	Securities fraud (Financial statements, 1999 10K, March 30, 2000)	10
16	Securities fraud (Financial statements, 2nd quarter 2000 10Q, Aug. 14, 2000	10
17	Securities fraud (Financial statements, 3rd quarter 2000 10Q, Nov. 14, 2000)	10
18	Securities fraud (Financial statements, 2000 10K, April 2, 2001)	10
19	Securities fraud (Financial statements, 1st quarter 2001 10Q, May 15, 2001)	10
20	Securities fraud (Financial statements, 2nd quarter 2001 10Q, Aug. 14, 2001)	10
22	Securities fraud (Analyst call — Jan. 22, 2001)	10
23	Securities fraud (Analyst conference in Houston — Jan. 25, 2001)	10
24	Securities fraud (Analyst call — March 23, 2001)	10
25	Securities fraud (Analyst call — April 17, 2001)	10
26	Securities fraud (Analyst call — July 12, 2001)	10
31	False statements to auditors in annual representation letter (1999 10K; March 13, 2000)	10
32	False statements to auditors in annual representation letter (2000 10K; Feb. 23, 2001)	10
34	False statements to auditors in quarterly representation letter (2000 2nd quarter 10Q; August 11, 2000)	10
35	False statements to auditors in quarterly representation letter (2000 3rd quarter 10Q; Nov. 13, 2000)	10
36	False statements to auditors in quarterly representation letter (2001 first quarter 10Q; May 15, 2001)	10
42	Insider trading ($739,000 on April 25, 2000)	10
43	Insider trading ($6.34 million on April 26, 2000)	10
44	Insider trading ($1.29 million* on Aug. 30, 2000)	10
45	Insider trading ($5.22 million* on Sept. 1, 2000)	10
46	Insider trading ($972,000* on Sept. 5, 2000)	10
47	Insider trading ($6.04 million* on Nov. 1, 2000)	10
48	Insider trading ($1.65 million* on Nov. 2, 2000)	10
49	Insider trading ($3.80 million* on Nov. 7, 2000)	10
50	Insider trading ($20.99 million* on Nov. 15, 2000)	10
51	Insider trading ($15.59 million*B115 on Sept. 17, 2001)	10

Ken Lay

COUNT	CHARGE	MAXIMUM SENTENCE (YEARS)	VERDICT
1	Conspiracy to commit securities and wire fraud	5
12	Wire fraud (False/misleading statements in employee meeting Sept. 26, 2001)	5
13	Wire fraud (False/misleading statements in employee meeting Oct. 23, 2001)	5
27	Securities fraud (Rating agency call — Oct. 12, 2001)	10
28	Securities fraud (Analyst call — Oct. 16, 2001)	10
29	Securities fraud (Analyst call — Oct. 23, 2001)	10

District Court Judge Sim Lake heard evidence on the four bank charges, listed below, against Ken Lay in a bench trial that began the day after jurors started deliberations. He is not expected to issue his verdict until after the jury issues the verdict in the main case. If convicted on all four counts Lay’s prison sentence could range from no time, since the banks did not lose money, to a likely maximum of six months per count. The sentences would most likely be served concurrently with each other and any sentence that comes from the other trial.

COUNT	CHARGE	MAXIMUM SENTENCE (YEARS)	VERDICT
38	Bank fraud (Line of credit agreement)	30
39	False statements to banks (Bank of America)	30
40	False statements to banks (Bank of America)	30
41	False statements to banks (Compass Bank)	30

[theDentist]

hey, when do they have the trial for the folks who did the same at Global Crossing? /sarc

[P-40]

And a collective sigh of relief comes from Washington as they escape from the attention of the news cycles for a while.
:)

[epluribus_2]

The 2008 election campaign (for the Rats at least) officially begins today at 12:00 since this is going to be all about W just like Katrina was painted endlessly to be.

[bwteim]

Thanks for post and the tab on the counts.

[Rte66]

5-1/2 days. The verdict sheets alone were 50 pages long.

[Jalapeno]

source:

http://blogs.chron.com/enrontrialwatch/

[Iwo Jima]

Judge Sim Lake, not Judge Sims.

A very good judge. Almost the epitome of what a judge should be.