Prosecution Rests in Enron Trial

The government rested its case today after the judge agreed to drop three of the 31 charges against Jeffery Skilling and a single count out of the seven against Kenneth Lay. Few details were provided on why the charges were dropped.


Advertisement


All Aboard the High-Velocity 2006 FRx Express! FRx Software has the engine fired up again to travel nationwide with timely training and expert guidance! Microsoft FRx and Microsoft Forecaster users, potential users and resellers don’t miss this FREE*, half-day event!

Once you’re on board, the FRx Software experts will help you gain tremendous insight into Microsoft FRx and Microsoft Forecaster. You’ll have the opportunity to hear customer perspectives and network with prospects plus pack in useful tips, and see the features and benefits of FRx Software’s financial analytic applications. Register now!


FRx Software Home Product Information
Training & Consulting Product Demo
Webcast Customer Testimonial Video



The Houston Chronicle reports that the dropped charges against Skilling related to a pair of securities fraud counts and a charge of lying to auditors. The number of securities fraud charges facing Lay has declined by one. U.S. District Judge Sim Lake ordered that references to the dropped charges be removed from the superceding indictment presented to jurors when they begin their deliberations.

Since testimony began on February 1, the government presented 22 witnesses, including eight former executives who have pled guilty, one with an immunity deal, one who settled regulatory allegations and three claiming their concerns fell on deaf ears, according to the Associated Press.

A motion by the defense to acquit both defendants on a number of charges was rejected.

Court was dismissed around 10:40 a.m. and is in recess until Monday morning, allowing the defense time to organize their case. In addition to the two defendants, the defense is expected to present testimony from about one-quarter to one-half of the witnesses named on their list of some 100 potential witnesses. The defense’s initial witness list was more than twice that number. Both Lay and Skilling have entered not guilty pleas and face decades in prison if found guilty on all charges.

You may like these other stories...

Scott London, a former senior audit partner at KPMG LLP, was sentenced to 14 months in federal prison on Thursday for providing inside information about several of his firm’s clients to a friend, who used it to make at...
By Teresa Ambord, Correspondent You'd think a man who masterminded the biggest Ponzi scheme in history would have ice water in his veins. The name Bernard Madoff has become synonymous with investment scams after his...
By Ken Berry In a new case decided by the US Supreme Court, the remnants of a tax shelter partially constructed by wily Texas billionaire Billy Joe McCombs - known informally as "Red" - collapsed like a house...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.