The defence lawyer for former Enron CEO Jeff Skilling has continued to
cross-examine Mark Koenig, the former ex-chief of investor relations at the
energy company, in an attempt to discredit his testimony.
For a third day running Daniel Petrocelli grilled Koenig, who pleaded guilty
to securities fraud in 2004 and faces 10 years in prison and $1m in fines,
saying that Koenig was not actually guilty of those crimes but was coerced by
the government to enter the plea, CNN reported.
Koenig, now a government witness, had testified that for the April 2001
quarter Enron had purposely mis-stated the purpose of a reorganisation, saying
the real reason Enron moved about $200m in assets from one division to another
was to hide losses in its retail business unit.
Petrocelli is expected to wrap up his cross-examination tomorrow.
Skilling and his predecessor, Kenneth Lay, are being tried for a combined 37
counts of conspiracy and fraud in connection with the fall of Enron.
Lay and Skilling have pleaded not guilty
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