Lay, Skilling Convicted In Enron Trial

Law360, New York (May 25, 2006, 12:00 AM EDT) -- Former Enron executives Ken Lay and Jeff Skilling have been found guilty of conspiracy for their roles in the accounting fraud that caused the energy giant to become the second largest bankruptcy in history.

Enron founder Ken Lay was found guilty of six counts of conspiracy and wire fraud, while former CEO Jeffery Skilling was found guilty of 20 counts of conspiracy, but not guilty of insider trading.

The company’s December 2001 bankruptcy filing snuffed more than 5,000 jobs and at least $800 million in employee...
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