Testifiying for a third day, Ken Lay, the founder and former boss of Enron
claimed he did not lie about the state of the company’s finances to investors
because he had the results verified by accountants and lawyers.
In response to the six fraud and conspiracy charges against him, Lay
explaining how at each step he believed he was accurately describing the
company’s financial status, based on assurances from Enron’s lawyers and
accountants and using descriptions supplied by Enron’s investor relations staff.
Lay claimed he was ‘reading from a script’ which he would ‘rarely deviate
from it more than a word or two’.
Lay and former CEO Jeffrey Skilling are accused of conspiring to defraud
investors Skilling also faces insider trading charges.
Both deny any wrongdoing.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements