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Prosecutor Claims Lay, Skilling Used Hocus Pocus

Law360 (May 15, 2006, 12:00 AM EDT) -- In closing arguments in the Enron case, a federal prosecutor told the jury and a packed courtroom Monday that two former chief executives lied repeatedly to investors and employees in a fraudulent large-scale scheme to cover up millions of dollars in losses.

Prosecutor Kathryn Ruemmler said Enron founder Kenneth Lay and former chief executive Jeffrey Skilling committed a series of magic tricks, including “accounting tricks, hocus pocus and outright lies,” to pull the veil over investors’ and employees’ eyes.

“Mr. Lay and Mr. Skilling were the...
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