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Tue, Dec 02 2008 

Published May 22, 2006 11:51 am -

Enron jury resumes deliberations


Associated Press

HOUSTON (AP) — Jurors resumed deliberations Monday in the federal fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling.

The panel of eight women and four men began a second full day of talks after receiving the case on Wednesday and putting in about 9 1/2 hours over a day and a half. Jurors have agreed to deliberate Monday through Thursday.

Lay is also on trial separately without a jury before U.S. District Judge Sim Lake on charges stemming from his personal banking. But Skilling has little to do except wait.

The 16-week conspiracy case against Lay and Skilling was the government’s marquee trial to emerge from its investigation of Enron’s December 2001 descent into bankruptcy proceedings in one of the biggest corporate scandals in U.S. history.

Skilling faces 28 counts of fraud, conspiracy, insider trading and lying to auditors and a maximum of 275 years in prison if convicted on all counts. Lay faces six counts of fraud and conspiracy with a combined maximum punishment of 45 years.

Both are accused of repeatedly lying when they told investors and employees Enron was robust when they knew it was propped up by accounting tricks that hid losses and flailing ventures. The two men say their optimism was genuine and attribute Enron’s failure to bad publicity and lost market confidence.



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