Enron -- Judge rejects Skilling's request to drop charges

[ProSense]

Skilling Request to Drop Charges Denied
By KRISTEN HAYS, AP Business Writer
1 hour, 43 minutes ago


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.

U.S. District Judge Sim Lake, in a 26-page opinion, denied Skilling's request to dismiss 10 counts of insider trading.

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.

Both have pleaded not guilty, and are slated to go to trial Jan. 30.

http://news.yahoo.com/s/ap/20051229/ap_on_bi_ge/enron_skilling_1

[napi21]

1. I can't wait to hear about Causey's testimony!

With him accepting a plea, it's sure going to make the Lay/Skilling trial interesting!

Those boys aren't having happy holidays this year! Sounds like the New Year is going to be worse!!!!

[niyad]

4. may the rest of their lives be as miserable as the ruined lives of their

employees, shareholders and the customers of the utility companies they gouged.

[babylonsister]

2. Aw...cry me

a river! :nopity: Ain't karma a bitch?

[peekaloo]

3. teeheeheee......He and Kenny Boy must be soiling their Underoos

about now.


I hope they both have "night visits" from Cliff Baxter.

[gratuitous]

5. The Sgt. Schulz defense probably won't work now

For those of you unfamiliar with Sgt. Schulz, he was a character on a 1960s sitcom "Hogan's Heroes" set in a Nazi POW camp (no, really!). Played by John Banner, Schulz was your typical camp sergeant, lovable and bumbling. Often he would get caught between the demands of his commanding officer and the hijinks of the POWs (come on, I'm being serious!). At that time, Schulz would bellow "I know nussink! Nussink!" hoping to distance himself from whatever shit was about to hit the fan.

Anyway, the Sgt. Schulz defense of not knowing anything is particularly popular with criminals like Ken Lay and Jeff Skilling. If they're to be believed, enormous sums of money just fall out of the sky and into their pockets, and they don't have the first clue as to why that happens. Another couple million from this business deal? Well, sure! But gosh, I didn't really do anything for that money, it was just a consulting fee for a little itty-bitty part of some obscure facet of the deal. Surely you don't think I masterminded this nefarious scheme, do you?

Now that Causey has flipped, though, Lay and Skilling will probably be personally tied into any number of financial shenanigans that were going on at Enron. I hope the laughter of the jury at their hapless protestations echoes in their ears long after they're sentenced to many, many years in prison.

[0007]

6. More here at the Houston rag -

Lawyers watching the case do not expect Judge Lake will dismiss the case.

But they figure this was designed to get the judge's attention to the plethora of witnesses that will not talk to defense attorneys but may be called to testify against their clients.

Judge Lake has already sent a letter to 38 witnesses' attorneys saying the government will not retaliate should the witnesses choose to speak to Lay's, Skilling's or Causey's counsel.

The prosecutors' papers indicated that some of the lawyers did not want their clients to speak to the Lay-Skilling-Causey team not because of government threats but because of the usual caution by attorneys who wants clients to make as few statements as possible.

More here

[DemGirl7]

7. This is going to be a good trial...I just know it

I like to see crooks get what they deserve.