Another victory for the working class!!!!  

sexwyounow 50M
203 posts
5/25/2006 5:00 pm

Last Read:
5/26/2006 6:56 pm

Another victory for the working class!!!!


Corporate Scandals The Enron Trial

Lay, Skilling guilty on nearly all counts
Former CEOs convicted of fraud, conspiracy, face lengthy prison terms.

Former Enron CEO Jeff Skilling, center, walks to the U.S. courthouse with his attorney Daniel Petrocelli, right, for his fraud and conspiracy trial in Houston Thursday. After six days of deliberation, the jury found him guilty.

• Lay reacts
May 25: Former Enron CEO Kenneth Lay told reporters he still believes he’s innocent, despite Thursday’s guilty verdict on multiple charges of securities fraud.

Updated: 1 hour, 33 minutes ago
HOUSTON - All along, Kenneth Lay, Jeffrey Skilling and their high-octane lawyers contended that the notion of a prodigious fraud that infected and ultimately took down Enron Corp. was no more real than the Easter Bunny.

In the half-decade that followed the collapse of the energy trading company, five years in which Enron came to be seen as the emblem for an era of corporate fraud, public opinion begged to differ.

In a devastating verdict, Lay and Skilling were convicted of a total of 29 criminal counts, including a conspiracy to hide the failing health of the company by selling a boosterish optimism to Wall Street and the public.

Barring a successful appeal, they are all but guaranteed to spend many years in prison, perhaps the rest of their lives. The bank-related charges against company founder Lay each carry up to 30 years alone, and the prison terms for the counts former Chief Executive Skilling is guilty of add up to 185 years.

The two men were convicted after a four-month trial during which both took the witness stand and boldly proclaimed their innocence. Each was aggressively challenged by prosecutors on cross-examination – tense for Skilling, explosive for an agitated Lay.

“I wanted very, very badly to believe what they were saying, very much so,” juror Wendy Vaughan told reporters after the verdict.

But they did not. U.S. District Judge Sim Lake announced the verdict at midmorning, intoning the word “guilty” 19 times for Skilling and 10 times for Lay.

Skilling was acquitted of nine counts of insider trading and convicted of one – a $15.5 million sale of Enron stock days after Sept. 11, 2001, that he later said was influenced by the terror attacks. In fact, he had tried to sell 200,000 shares Sept. 6.

As the judge read the verdict, the 64-year-old Lay clutched the hand of his wife, Linda, of whom he had spoken lovingly from the witness stand. Linda Lay, Lay’s daughter Elizabeth Vittor and Linda Lay’s daughter, Robyn, all sobbed quietly.

Lake allowed Skilling, 52, who already had a $5 million bond package and had surrendered his passport, to leave immediately. “Obviously, I’m disappointed,” Skilling told reporters outside the courthouse. “But that’s the way the system works.”

Later in the day, the judge set another $5 million bond for Lay and ordered him to avoid any contact with Enron victims.

When the courtroom emptied of jurors, most reporters and the judge, Lay stood close to the bench, receiving condolences from friends and family. He spent minutes that seemed like years holding hands with his wife and talking quietly with her.

CONTINUED: Sentencing set for Sept. 11-----------------------------------------------------------------------------

Readers believe justice was served

Forbes: Don't stop at Enron

Do you agree with the verdict? Enron Trial Section Front

LilSquirt_4mfm 67M/67F
3394 posts
5/25/2006 5:41 pm

Another victory for the working class!!!!, true .... but is

a Victory for Everyone!!!!

but, kinda late for so many investors


sexwyounow 50M

5/26/2006 1:54 am

    Quoting LilSquirt_4mfm:
    Another victory for the working class!!!!, true .... but is

    a Victory for Everyone!!!!

    but, kinda late for so many investors

Yeah I guess it is a victory for everyone but being a blue collar man I get really pissed at assholes like him because people like him believe we are "LITTLE" people.

He gets shit on his hand just like everyone else does when the paper breaks. He probably wears womens panties

I have utterly NO respect for assholes like him!!!!!!!

Look at him smiling!!! I guess he thought his MONEY could BUY him a FREE ticket.

He will get put in a a POSH FEDERAL "RESORT PRISON" because he would surly be dead in a matter of minutes in a REAL prison. (THE BIG HOUSE.)

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