Ken Lay to give his defense speech to business executives today

[donsu]

http://quote.bloomberg.com/apps/news?pid=10000103&sid=aWSwsLQpLtWA&refer=news_index

Enron's Ken Lay to Use Public Speech to Present His Defense


Former Enron Corp. Chairman Kenneth Lay, facing trial on fraud charges related to the $60 billion collapse of the company, will make his case publicly in a speech to business executives in Houston today.

Defendants in criminal trials are usually advised by their lawyers not to make public statements about charges to avoid having their remarks used against them. Lay, who has a Web site with data posted on his case, held a press conference last year to defend himself, a tactic lawyers called risky at the time.

Lay goes on trial Jan. 17 on more than 30 counts of conspiracy, securities and bank fraud, alongside former Enron Chief Executive Officer Jeffrey Skilling and Chief Accounting Officer Richard Causey. His co-defendants have declined to make public comments since their indictment. Lay said he knew nothing about the fraud at Enron and that the company was undone by unscrupulous underlings who hid debt off the books.

``This is all about selling people on the idea that Ken Lay didn't know what was going on,'' said David Irwin, a white- collar defense lawyer in Baltimore and a former federal prosecutor. ``They obviously believe he's the best salesman they have.''
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LOL

[napi21]

1. Boy I bet his lawyers are freaking out over this one!

I wonder if there will be a transcript of his speech posted anywhere? I'm curious to see what he thinks he can get away with.

You know, the "I didn't know anything" defense doesn't usually work, especially since this was a company wide problem.

Then there's always that favorite lawyer statement..."Knew or should have known". I had to endure a 6 year long investigation where I worked, and that statement was in EVERY accusation that was made against the Company and everyone of the individuals who were being investigated.

Anybody know if old Kenny Boy's trial is going to be televised? Maybe court tv???

[leveymg]

2. Who would want to be seen in the same room with Ken Lay?

Doesn't this just telescope a message of support, or gee, maybe it signals "if I'm indicted, I can learn something from this guy".

I might go because it's bound to be an amazing freakshow. But, I don't work for a major corporation.:eyes:

[madrchsod]

3. i wonder if his lawyer got his money

up front cause kenny boy is going away untill bush pardons him.

[tularetom]

4. Why the hell do business executives

want to listen to an accused felon? He claims he knew nothing about what was going on at Enron - that he is using the "I'm not a crook I'm just incompetent" defense. Is this an example for business executives to be listening to? Still I have a feeling we'll be hearing it a lot in the next few months and not just from the privaate sector either.

[cliss]

5. Ole Ken is doing OK these days.

I read that Ken Lay started a new company in Houston. He's doing just fine. The Lay's are still in the "in-crowd" in that town, they host quiet parties and still mingle with the creme de la creme.

There's a reason for that! Lay walked away with an insurance policy worth $455 million as his company went down in flames. Plus, the old boy had lots of other perks which he cashed in on. Money talks.

It was his company, you know?