The jury in the trial of former Enron bosses Jeff Skilling and Ken Lay has retired to consider its verdict after the defence teams wrapped up their closing arguments.

Defence lawyer Daniel Petrocelli said the prosecution's claims were ‘absurd’ and called his client, Jeff Skilling, a ‘tortured man’.

‘You can say fraud to your heart's content. No matter how many times you say fraud, it doesn't make it true,’ Petrocelli said.

Skilling faces 28 counts of fraud and conspiracy while Lay, Enron’s founder is charged with six such offences.

They are accused of trying to hide $32bn (£18bn) of debts at the firm, but deny any wrongdoing.