Enron Trial Expected to End This Week
by: Capella Tucker, May 8, 2006 5:05:00 am
The fraud and conspiracy trial of Enron found Ken Lay and former CEO Jeff Skilling is quickly winding down. The defense could have their case wrapped up by this afternoon. Houston Chronicle Business Columnist Loren Steffy.
"The defense has a few experts left that will be talking about various accounting issues and things like that and a few fact witnesses. One of them will be talking about the photofet situation which is the small photography company that Jeff Skilling's ex-girlfriend started. Skilling and Lay both invested in. So they have somebody to talk about that. They also have one character witness for Ken Lay left."
After the defense rests, the prosecution begins its rebuttal. Attorneys have said they will not cause fromer Enron Chief Accounting Officer Rick Causey who pleaded last December just before the trial was to begin. While prosecutors could change their minds, Steffy says it's not likely.
"From the prosecution standpoint, they have to be pretty happy with the way the case has gone. And I don't think they are going to run the risk of over doing it. The danger with Causey is you don't quite know what he's going to say and he might say some things that helps the defense so why risk it at this point."
Steffy suspects some witnesses will be called to talk about a meeting that former Enron CFO Andy Fastow says was an attempt to recapitalize the former energy giant.
"And Ken Lay said was simply a meeting to discuss a possible anti-take over defense because the company's stock price had dropped. That's a big area of dispute, what actually happened in that meeting so you may see some people that were there who could shed some light on it. I think you'll see a lot that kind of thing. Some fact witnesses that may help to shore up a few questions in the government's case."
The trial has moved quickly given the complexity of the case. US District Judge Sim Lake says he intends for closing arguments to begin a week from today. Capella Tucker, Houston Public Radio News.