The defense called no fewer than five witnesses at the fraud and conspiracy trial of Ken Lay and Jeff Skilling. HOuston Public Radio’s Ed Mayberry reports. Aired 4/4/06 during the KUHF Morning Business Report.
The defense revisited specific times and events referred to in government testimony, hearing from Rogers Herndon, a former vice president with Enron’s retail energy services division, who said transferring activities from Enron’s struggling retail division to its profitable wholesale division made good business sense.
The day opened with Joannie Williamson, an assistant to Mark Koenig, the former head of investor relations. Williamson said she was stunned when Koenig phoned to say he would be pleading guilty to aiding and abetting securities fraud, because she said he had always maintained his innocence. But told her that he would plead because, quote, “in order for this to work, everybody has to believe that I am.”
Scott Stonnis spent a few minutes on the stand answering questions. He managed regulatory exposure for Enron’s California power contracts. Sarah Davis, who formerly worked at human relations at Enron, returns to the stand when testimony resumes this morning. Defense attorneys now say that Jeff Skilling could be called to the stand as early as Wednesday.
Ed Mayberry, Houston Public Radio Business News.