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Trial of Kenneth Lay and Jeffrey Skilling
Criminal trial of former Enron Corporation executives
The trial of Kenneth Lay, former chairman and CEO of Enron, and Jeffrey Skilling, former CEO and COO, was presided over by federal district court Judge Sim Lake in the Southern District of Texas in 2006 in response to the Enron scandal.
Timeline
- The trial began on January 30, 2006.
- Opening arguments
- The defense argued there was much "wickedness", and pressure led to confessions by company leaders, and failure of "market confidence" led to the financial crisis.
According to the East Bay Times, the defense "went so far as to suggest 13 of the 16 Enron executives who have pleaded guilty to federal crimes were innocent but caved in to intense pressure from federal prosecutors."[1]
- The prosecution argued that leaders lied to Wall Street and investors about "crumbling finances".
- The defense argued there was much "wickedness", and pressure led to confessions by company leaders, and failure of "market confidence" led to the financial crisis.
- Eight former Enron executives testified, the star witness being Andrew Fastow, against L