Enron founder Ken Lay returns to the stand to answer questions from the defense again this morning. The government expects the trial to continue through May. Houston Public Radio’s Ed Mayberry reports. Aired 4/26/06 during the KUHF Morning Business Report.
Lay said the Wall Street Journal was on a witch hunt with its articlesprobing Chief Financial Officer Andy Fastow’s L-J-M partnerships. He saidthe articles were driving down Enron’s stock price at a time that he thoughtthe company was doing extremely well. But Lay said the board didn’t know atthe time that Fastow had done anything inappropriate.
Lay said when he found out on October 24th, 2001 that former Fastow had made$45 million from his partnerships, he began to wonder whether Fastow was theperson that he made himself out to be. He said he walked to his office andasked Fastow to pack his personal belongings and leave the building.
The prosecution hopes to start its cross examination today, puttingre-direct and re-cross to Monday. The defense expects to rest sometime inthe second week of May, then the government’s rebuttal starts, before bothsides have six-hour closing arguments. The government said deliberationsmight happen in the fourth week of May.
Ed Mayberry, Houston Public Radio News.