Lawyers for a convicted former Enron executive have asked the government to release $60 million in assets under its control. Houston Public Radio’s Ed Mayberry reports.
Attorneys for former Enron CEO Jeff Skilling said jurors found Skilling guilty of only one of ten counts he faced for insider trading charges. Defense attorney Daniel Petrocelli said the profit from that one sale could be forfeited. Petrocelli filed a motion with U.S. District Court Judge Sim Lake requesting the assets be released, saying Skilling owes his Los Angeles-based firm O’Melveny and Myers, “tens of millions of dollars.”
Skilling was convicted in May, along with Enron founder Ken Lay, of lying to investors and employees about Enron’s health before the company collapsed into bankruptcy protection in December 2001.
Besides the one insider trading charge, the jury convicted Skilling of 19 counts of fraud, conspiracy and lying to auditors. Lay and Skilling also asked for their September 11th sentencing date to be delayed by up to 45 days to give the defense team more time to prepare. Ed Mayberry, Houston Public Radio News.