Ken Lay, the founder and former chief of Enron, claimed the collapse of the
energy company was primarily due to the actions of jailed ex-finance chief
Testifying at his, and fellow former boss, Jeff Skilling’s fraud trial, Lay told
the Houston court that the two biggest mistakes he made at Enron was hiring
Andrew Fastow and then promoting him to chief financial officer.
Lay claimed the collapse of his company has been ‘incredibly painful’ and
called Fastow ‘a liar and a thief’ – in response to earlier testimony given by
Fastow implicating Lay and Skilling in the accounting scandal that led to the
multi-billion dollar demise of Enron.
Lay faces six counts of fraud and conspiracy, while Skilling faces 28
criminal counts of conspiracy, fraud, lying to auditors and insider trading.
Both men 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