Enron’s Lay, Skilling Convicted of Conspiracy and Fraud Charges
"This conviction brings to a close the government's effort to send a clear message to the corporate world that fraudulent behavior won't be tolerated"
- David Irwin, a former state and federal prosecutor
Houston, TX - A U.S. jury convicted Kenneth Lay and Jeffrey Skilling of orchestrating the fraud that destroyed Enron Corp., giving prosecutors a victory a case that came to symbolize corporate crime sparked by the stock market bust in 2000.
Lay, 64, and Skilling, 52, face at least 25 years each in prison after being convicted of using off-the-books partnerships to manipulate Enron's finances.