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Enron Jury Reaches a Verdict

It will be announced at 12 noon ET. Stay tuned....

Update: Fox News Channel is reporting that Ken Lay was found guilty on all counts, which include conspiracy, wire fraud, and securities fraud. He could spend the rest of his life in prison. Fox also reports that Jeff Skilling was found guilty of fraud.

Reuters confirms.

The AP also filed a report.

Update II: DJ Drummond of Stolen Thunder offers his thoughts on today's verdict.

Update III: Professor Bainbridge has a nice reaction roundup.


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» Assorted Babble by Suzie linked with What Goes Around Comes Around

Comments (6)

Slam dunk, baby!... (Below threshold)
astigafa:

Slam dunk, baby!

But wait... All the DUMmies... (Below threshold)
The Listkeeper:

But wait... All the DUMmies kept telling us that Bush was going to cover for his oil buddies...that there was no WAY Lay would ever be convicted? HOW CAN THIS BE?

The Listkeeper -I ... (Below threshold)
jim:

The Listkeeper -

I think the Dems will simply claim that Bush will pardon them. There are, after all, precedents by presidents of both parties. Clinton recently, and Ford of Nixon, just to name two examples.

Ford of Nixon<... (Below threshold)

Ford of Nixon

Oddly, this was used as a reason that Bush should pardon Clinton...

Lay's insurmountable proble... (Below threshold)

Lay's insurmountable problem was the failure to get his trial separated from Skilling's.

In the great labyrinth of Enron schemes, Lay was the guy who wandered about the hallways being very careful not to ask anyone what they were doing. Certainly he is guilty of misfeasance and nonfeasance, but probably not the principal author of fraud. Being tried with Skilling, who was in the middle of most of the fraudulent "partnership" arrangements that hid the company's true financial condition, put him in an almost impossible situation.

The irony is that the real manipulators who concocted the whole bogus plan, Fastow and his wife, got off easy with a plea bargain.


There will be appeals, but with little likelihood of success. Once the jury has come back, you can no longer argue the facts, and it is doubtful the prosecution or the court violated any precept of law.


Another Clinton-era scandal... (Below threshold)
muck44:

Another Clinton-era scandal brought to justice under the Bush administration.




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Editors: Jay Tea, Lorie Byrd, Kim Priestap, DJ Drummond, Michael Laprarie, Baron Von Ottomatic, Shawn Mallow, Rick, Dan Karipides, Michael Avitablile, Charlie Quidnunc, Steve Schippert

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