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Last updated on April 20, 2014 at 21:20 EDT

Latest Jeffrey Skilling Stories

2006-02-28 14:20:17

By Matt Daily HOUSTON (Reuters) - Enron Corp. played "fast and loose" with the rules and accounting tricks were "standard operating procedure," a former top executive testified on Tuesday at the trial of former CEOs Ken Lay and Jeffrey Skilling. The executive, David Delainey, who met nearly daily with Skilling during his tenure as chief executive officer, provided an insider's view of the executive offices at Enron, and his testimony appeared to be the most damaging yet to the...

2006-02-27 18:30:00

By Matt Daily HOUSTON -- Enron Corp. illicitly tapped into cash reserves to inflate earnings demanded by former CEO Jeff Skilling to impress Wall Street, a former top accountant said on Monday at the trial of Skilling and ex-CEO Ken Lay. The accountant, Wesley Colwell, testified the orders from his bosses to raid the reserve funds violated accounting rules that govern how companies report on cash set aside to cover expected costs and liabilities. "If you have (transfers) that are driven by a...

2006-02-22 19:44:29

HOUSTON (Reuters) - A U.S. judge has given preliminary approval to a $6.7 billion civil settlement by three banks accused by Enron shareholders of helping the company hide financial misdeeds that led to its ruin, an attorney said on Wednesday. Lead shareholder attorney William Lerach said the settlement approved by U.S. District Court Judge Melinda Harmon was the largest of its kind and that more would follow. "It is the largest recovery for fraud in history and, believe me, we are...

2006-02-21 18:23:10

By Matt Daily HOUSTON (Reuters) - Former Enron Corp. CEO Ken Lay lied about the company's precarious financial health in its final weeks even after learning it had no access to new sources of cash, a former Enron executive testified on Tuesday. The witness, Paula Rieker, worked as a top investor relations executive and corporate secretary at Enron, and her testimony at the trial of Lay, 63, was the strongest yet linking the former chief to wrongdoing at the company that was once the...

2006-02-17 19:05:54

By Deepa Babington HOUSTON (Reuters) - Three weeks into the trial of Enron's former chief executives, billed by some as the business trial of the century, the case has become so bogged down that courtroom observers joke it might last a century. Things got so slow during a detailed cross-examination of a witness this week that even the judge in the fraud and conspiracy trial of former Enron CEOs Jeffrey Skilling and Kenneth Lay lost his patience. "If you're going to question him...

2006-02-16 18:17:20

By Matt Daily and Deepa Babington HOUSTON (Reuters) - A key witness at the Enron trial stuck to his claim that former CEO Jeffrey Skilling lied about the health of the company's cash-burning Internet division, even as the defense poked holes in his testimony on Thursday. The witness, Kenneth Rice, ran Enron's broadband services business and was a one-time confidant of Skilling, 52, who is standing trial on fraud and conspiracy charges alongside former CEO Ken Lay, 63. In his third...

2006-02-15 16:40:00

By Deepa Babington HOUSTON (Reuters) - A former Enron executive pleaded guilty and gave error-filled testimony against his former boss mainly to avoid a long prison sentence, a defense lawyer in the trial of Enron's top executives argued on Wednesday. Kenneth Rice was well aware he faced over 100 years in prison if he didn't cooperate with the government, the defense said as it questioned Enron's former broadband chief. "You knew that the only way to avoid life in prison was to cooperate?"...

2006-02-15 16:39:38

By Deepa Babington HOUSTON (Reuters) - A former Enron executive pleaded guilty and gave error-filled testimony against his former boss mainly to avoid a long prison sentence, a defense lawyer in the trial of Enron's top executives argued on Wednesday. Kenneth Rice was well aware he faced over 100 years in prison if he didn't cooperate with the government, the defense said as it questioned Enron's former broadband chief. "You knew that the only way to avoid life in prison was to...

2006-02-09 18:35:03

By Matt Daily and Dan Whitcomb HOUSTON (Reuters) - A lawyer for former Enron CEO Jeffrey Skilling suggested on Thursday that a key government witness in the trial of Skilling and former CEO Ken Lay did not commit the crimes he admitted to under a plea deal with prosecutors. Enron's former head of investor relations Mark Koenig is the first in a string of former Enron employees who are expected to testify against Skilling and Lay after striking a deal with the government to avoid...

2006-02-08 19:48:09

By Dan Whitcomb HOUSTON (Reuters) - A former Enron executive spent a fifth day on the witness stand on Wednesday as defense lawyers tried to chip away at his testimony that the company, under then-chief executives Jeffrey Skilling and Ken Lay, tried to hide mounting losses from investors. But Mark Koenig, who ran Enron's investor relations as the company spiraled toward bankruptcy in December of 2001, stood firm on his key assertions that the energy giant shifted losses from one...