lay, skilling convicted

it looks like Skilling and Lay's last con job fell flat. the jury, quite sensibly, didn't buy it. flat-out denial was a bold but stupid strategy. there could hardly have been a better exhibition of how these conmen operated, how they managed to fool investors and regulators for years.

Lay, Skilling convicted in Enron collapse
By KRISTEN HAYS, AP Business Writer 23 minutes ago

HOUSTON - Former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling were convicted Thursday of conspiracy to commit securities and wire fraud in one of the biggest business scandals in U.S. history.

The verdict put the blame for the 2001 demise of the high-profile energy trader, once the nation's seventh-largest company, squarely on its top two executives. It came in the sixth day of deliberations following a federal criminal trial that lasted nearly four months.

Lay was also convicted of bank fraud and making false statements to banks in a separate, non-jury trial before U.S. District Judge Sim Lake related to Lay's personal banking.
...

Enron founder Lay was convicted Thursday on all six counts against him in the corporate trial. Former Chief Executive Skilling was convicted on 19 of the 28 counts, including one count of insider trading, and acquitted on the remaining nine.
...