The Enron case took four months to try, but the jury needed just 31 hours to reach its verdicts. Enron founder Ken Lay is guilty on all six counts of fraud and conspiracy in the loss of $60 billion from the collapse of his company. Former CEO Jeffrey Skilling is guilty on 19 of 28 charges of fraud, conspiracy and insider trading. After sentencing on September 11, they could spend the rest of their lives in prison. Attorney Dan Petrocelli promised "a full and vigorous appeal." The Enron collapse cost $60 billion in corporate value; $2.1 billion in pensions and 5600 jobs. We speak with federal prosecutors, former employees, and others about the latest development in a series of scandals that have rocked corporate America.
Enron Verdicts
Credits
Guests:
- Samuel Buell - Professor of Law at the University of Texas
- George Maddox - Former Enron employee
- Peter Henning - Professor of Law, Wayne State University
- Rebecca Smith - National Energy Reporter for the Wall Street Journal
- Juli Niemann - Oil Analyst, Smith, Moore & Company
- Christopher Palmeri - editor at Bloomberg
- Wayne Slater - journalist and author - @WayneSlater