For the former Enron employees and stock holders who lost their life savings, today's verdict should provide at least some satisfaction.Kenneth L. Lay and Jeffrey K. Skilling, the chief executives who guided Enron through its spectacular rise and even more stunning fall, were found guilty of fraud and conspiracy today in a case that led the parade of corporate scandals in recent years that emerged from the get-rich-quick stock market excesses of the 1990's.
The eight women and four men on the jury reached the verdicts after more than six days of deliberations. Mr. Skilling was convicted of 18 counts of fraud and conspiracy and one count of insider trading. He was acquitted on nine counts of insider trading. Mr. Lay was found guilty on six counts of fraud and conspiracy. He was also convicted of four counts of bank fraud in a separate case.
The conspiracy and fraud convictions each carry a sentence of 5 to 10 years in prison. The insider trading charge against Mr. Skilling carries a maximum of 10 years. Sentencing is set for the week of Sept. 11.
Don't agonize, organize ... that's my mantra. Change won't happen unless you work to make it happen! But sometimes even your best efforts don't provide the results you were looking for. Or sometimes a situation is just so completely outrageous that all you can do is say ... YIKES!
Thursday, May 25, 2006
GUILTY: Verdict in on Enron's Kenneth Lay and Jeffrey Skilling
Yes, there is a God!! Enron chiefs Kenneth Lay and Jeffrey Skilling were convicted today on charges of fraud and conspiracy. The New York Times reports:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment