Government rests case against Lay and Skilling

Government rests case against Lay and Skilling

Defence team to begin making case on Monday

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.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

5m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

9m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor