15 May

Closing Arguments in the Enron Trial

Kathryn Ruemmler, one of the federal prosecutors active in the trial of former Enron executives Kenneth Lay and Jeffrey Skilling, told the jury in closing arguments that the defendants lied “over and over and over again” to investors and employees. She said that they used accounting fraud, misleading statements and outright lies to help keep Enron’s stock price up.

Lay and Skilling counter that no fraud occurred at Enron other than executives skimming millions through secret side deals.

The judge gave jurors instructions about considering the testimony of prosecution witnesses who had received plea agreements in exchange for their testimony. Lay and Skilling are alleging that prosecutors got subordinates to confess to crimes they didn’t commit and lie about their bosses to avoid facing trials themselves.

The trial has lasted over 14 weeks, and the jurors are expected to begin deliberations sometime on Wednesday.

Leave a Reply