BusinessCompany NewsSkilling claims share sales were ‘proper’

Skilling claims share sales were ‘proper’

Nothing to hide in offloading $63m (£35.6m) worth of shares

In his trial alongside Ken Lay in Houston, former Enron boss Jeff Skilling
has defended his decision to sell $63m of Enron stock shortly before the company
collapsed, in a wave of accounting scandals.

Testifying during the 12th week of the trial Skilling claimed he had ‘nothing
to hide’ and insisted the sales in 2000 and 2001, were proper and that he had no
idea an internal probe into Enron’s accounts had begun.

He and Enron founder Ken Lay are facing multiple charges in relation to the
collapse of the energy company in 2001.

Both deny any wrongdoing.

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