Enron trial resumes with Lay/Skilling defence

Lawyers acting on behalf of former Enron CEOs Jeff Skilling and Ken Lay are
today expected to begin to argue their clients’ cases in Houston. 

Based on what they said in their opening statements at the start of the
trial, the lawyers are expected to argue that not only are their clients not
guilty of wrongdoing in the most famous corporate collapse of all time, but that
Enron’s demise was not due to criminal action.

Two months ago, Daniel Petrocelli, lead lawyer for Jeff Skilling told the
eight-woman, four-man jury a company that Enron was a company that failed
greatly, but ‘did not fail criminally’.

Skilling could testify by the week’s end, Petrocelli said, with Lay following

The government’s case saw a string of former executives accuse the two men of
knowing and playing an active role in the alleged fraud at the company and of
misleading investors about the true state of its financial health.

Both have maintained they knew nothing about the fraud.

Skilling faces 28 counts of fraud, conspiracy, insider trading and lying to
auditors, while Lay faces six counts of fraud and conspiracy.

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