Enron founder Ken Lay has completed six days on the stand in his fraud and conspiracy trial with co-defendant Jeff Skilling. Houston Public Radio’s Ed Mayberry reports. Aired 5/3/06 during the KUHF Morning Business Report.
Experts and character witnesses have followed Ken Lay’s testimony, including former Houston mayor Bob Lanier, who spoke of Lay’s efforts to raise corporate money for Toyota Center. Astros owner Drayton McLane talked of Lay’s help in getting a referendum passed to build Minute Maid Park, initially called Enron Field.
Securities and Exchange Commission expert Dr. Jerry Arnold from the University of Southern California explained accounting and SEC rules.
Lay ended his six days of testimony saying that he made mistakes as he struggled with Enron’s problems, but blamed crimes committed by former chief financial officer Andy Fastow for Enron’s death spiral. He says it’s been difficult to get witnesses to talk with his attorneys, especially if they had been contacted by the FBI.
U.S. District Judge Sim Lake has asked attorneys to complete testimony by May 11th so that closing arguments can begin on May 15th. When the jury gets the case, Judge Lake will conduct a separate bench trial for Lay’s four counts of fraud stemming from his personal banking.
Ed Mayberry, Houston Public Radio News.