Following a string of high-profile witnesses, nearly all of whom were former
senior executives at Enron, government prosecutors have rested their cases
against former CEO’s Ken Lay and Jeff Skilling.
They also dropped a number of charges against Lay and Skilling with the
former now facing six counts of conspiracy and fraud, and the latter, 28 cases
of fraud, conspiracy and insider trading.
In a final assault against the two former chiefs, prosecutors revealed that
the two defendants were paid a combined salary of nearly $375m (£210m) between
1999 and 2001.
The defence begins making its case – that Lay and Skilling had no part in the
financial scandal that led to demise of the energy giant – on Monday.
Enron collapsed in December 2001 after disclosures that it falsified accounts
to hide debt and inflate profits.
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