Enron’s former treasurer and a broker who handled the sale of Enron stock for Jeff Skilling answered questions for the government. Houston Public Radio’s Ed Mayberry reports. Aired 3/28/06 during KUHF’s Morning Business Report.
Glenn Ray was a stockbroker with Charles Schwab in Denver. He said Jeff Skilling first phoned him on September 6th, 2001, about selling shares of Enron stock, and tapes of those transactions were played. Skilling has said he sold his stock because of concern about the markets after the September 11th terrorist attacks.
Earlier, defense attorney Bruce Collins suggested that former Enron treasurer Ben Glisan, Jr., did not warn the board strongly enough about Enron’s finances at their October 22nd, 2001 meeting as he had asserted. Corporate secretary Paula Reicker’s notes indicate Glisan told directors–including Ken Lay–that Enron’s liquidity was adequate.
Glisan has echoed testimony from earlier government witnesses–including Andy Fastow–who said Lay and Jeff Skilling repeatedly lied to investors about Enron’s financial strength. But under cross-examination, he acknowledged that Skilling did not specifically ask for accounting rules to be circumvented.
Ed Mayberry, Houston Public Radio News.