Skilling Request to Drop Charges Denied

[Judi Lynn]

Dec. 29, 2005, 3:06PM
Skilling Request to Drop Charges Denied


By KRISTEN HAYS AP Business Writer
© 2005 The Associated Press

HOUSTON — A judge rejected former Enron Corp. CEO Jeffrey Skilling's request to dismiss insider trading charges pending against him in a court opinion made public Thursday.
(snip)

On Wednesday Lake accepted a guilty plea to securities fraud from former top Enron accountant Richard Causey, who was go to on trial alongside Skilling and Enron founder Kenneth Lay next month.

Skilling faces 35 counts of fraud, conspiracy, insider trading and lying to auditors for allegedly knowing about or participating in schemes to manipulate Enron's finances so investors would believe a wobbly company was healthy. Lay faces seven counts of conspiracy and fraud for allegedly perpetuating the ruse after Skilling abruptly resigned in August 2001, less than three months before Enron went bankrupt in December that year.
(snip)

The indictment alleges Skilling sold $62.6 million in stock when he had information about Enron's finances that was unknown to investors. One of the counts pertains to a stock trade he made after he had resigned from the company.
The indictment alleges further that Skilling caused Enron to enter a series of deals and transactions with off-the-books entities that allowed the company to manipulate financial results by omitting money-losing assets from the company's balance sheet, manufacturing earnings and backdating documents to inflate investment values.
(snip/...)

http://www.chron.com/disp/story.mpl/ap/business/3554620.html
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[alcibiades_mystery]

1. Jeffy's going to federal prison

And ain't that just a crying fucking shame...

:rofl:

[VegasWolf]

2. Wonder when Boosh will pardon the whole Enron group? nt

:sarcasm:

[NeoConsSuck]

3. Hopefully, 2006 will be a banner year!

Skilling, Lay, DeLay, and any other puke derivative of Lay :)

[MaineDem]

4. This is really funny

He actually thought the charges might be dropped???

:rofl:

[Demobrat]

5. Oh, probably not.

Just routine.

[MaineDem]

6. You're right but I still think it's funny

I picture Skilling throwing a hissy fit in his lawyer's office. "But you said..."

[NI4NI]

7. Bush will pardon Kenny Boy

I will be mildly shocked if he doesn't.

[blueinindiana]

8. he wil have to pardon skilling too

I mean if he pardons Ken I bet he pardons Jeff too

[NI4NI]

9. it's probable

welcome blueinindiana to DU