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BREAKING NEWS: The Enron Trial
Fact Sheet
Former Enron chiefs Kenneth Lay and Jeffrey Skilling have been
convicted of conspiracy to commit securities and wire fraud.
LAY CHARGES
— Convicted on all six counts against him, including conspiracy
to commit securities and wire fraud.
— He was also convicted in a separate trial of personal banking
fraud.
PUNISHMENT
— Lay faces a combined maximum punishment of 45 years.
SKILLING CHARGES
— Convicted on 19 of the 28 counts against him.
VERDICT
— Announced four years after charges were brought and just a
couple of hours after the jury resumed its deliberations for a
sixth day.
THE COMPANY:
— Was once the nation's seventh-largest company.
— Considered an innovative new-economy maverick and admired as
a top stock performer.
THE SCANDAL:
— Collapse cost thousands of jobs and (b) billions in losses.
— Enron's crash and scandals sent investors fleeing, prompted
stiffened white-collar penalties and upped regulatory scrutiny over
publicly traded companies.
THE TRIAL:
— Biggest fraud case to emerge from the scandal.
— Lasted 16 weeks and featured 54 witnesses for both sides.
— Lay and Skilling testified in their own defense.
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