ENRON JURY REACHES VERDICT:
ENRON FOUNDER ‘KENNY BOY’ LAY: GUILTY ON ALL CHARGES!
CEO JEFFREY SKILLING: GUILTY ON SOME CHARGES!
MORE TO COME…
The jury in the Enron case has reached a verdict, and the decision in the corporate fraud case will be announced in less than an hour, a court clerk announced Thursday.
The jury of eight women and four men reached their verdict on the sixth day of deliberations in the case of Enron founder Kenneth Lay and former CEO Jeffrey Skilling, who were charged with conspiring to hide the financial losses that brought down what was once the nation’s seventh-biggest company.
Lay, Skilling and representatives of the federal prosecutors have arrived in the courthouse.
Skilling was charged with 28 counts of conspiracy, fraud and insider trading while Lay faced six counts of conspiracy and fraud.
Houston-based Enron, once one of the hottest companies on Wall Street, imploded in a matter of months after Skilling abruptly resigned as CEO in August 2001. Lay, who was chairman at the time, postponed his retirement plans to return to the helm.