Enron Trial In April 2005
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As the WorldCom trial trundles on, next years showpiece is scheduled. This time in Houston. Ken Lay of Enron infamy faces 11 fraud charges. Two other executives, ex-CEO Jeffrey Skilling and ex Chief Financial Accountant Jim Causey, face more than 30 charges. Mr Lay, had sought a separate trial. Four of his charges relate to his personal bank accounts. Jury selection is due to start on January 17th. More than 4 years will have elapsed since the collapse of the energy trading company. Initially a trial in June or September had been sought. However conflicting schedules of the lawyers meant postponing to next year, on April 1st. The collapse of Enron and WorldCom within months of each other, exposed massive fraud at both companies. Internal controls had been a complete mess. The failures prompted the introduction of the Sarbanes-Oxley Act of 2002. As with Bernie Ebbers, all three defendants have denied the charges.
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