Skilling Remains on the Stand
by: Ed Mayberry, April 13, 2006 5:04:00 am
Skilling was quizzed about the Global Galactic Agreement—a handwritten document initialed by former Enron executives Andy Fastow and Rick Causey. Skilling said he was not aware of such a list of secret side deals between Enron and Fastow, and first heard of it when the Sherron Watkins memo to Ken Lay about accounting irregularities was made public. He said he was not aware of any oral guarantees.
Skilling said to his knowledge, there were no so-called "cookie jar" reserves at Enron, as alleged by government witnesses. He said all reserves had been properly established and utilized, and scrutinized by the internal accountants and the Arthur Andersen accounting firm. They were used to prepare only for future forecasted events.
Skilling says he's angry with the government, and feels falsely accused.
Defense attorney Daniel Petrocelli continues direct examination this morning, and then Ken Lay's defense team could question Skilling before prosecutor Sean Berkowitz starts his cross examination, likely next week.
Ed Mayberry, Houston Public Radio News.