Lay and Skilling are Guilty

After a trial that ran more than 15 weeks, and more than five days of jury deliberations, Enron founder Ken Lay and former CEO Jeff Skilling have been found guilty on most of the counts of securities fraud, conspiracy, making false statements to auditors, and insider trading, in the events that led to Enron's collapse into bankruptcy in December of 2001.

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After testimony from dozens of witnesses, including several former Enron executives who pleaded guilty and testified for the government, federal prosecutors proved that Lay and Skilling committed crimes by lying to investors and analysts about the company's financial condition.

In a separate trial before the judge, Ken Lay was found guilty on all counts of bank fraud in his own personal dealings with several banks.

Both men could be sentenced to long prison sentences.

Count 1 (Conspiracy) GUILTY
Count 2 (Securities Fraud) GUILTY
Count 14 (Securities Fraud) GUILTY
Count 16 (Securities Fraud) GUILTY
Count 17 (Securities Fraud) GUILTY
Count 18 (Securities Fraud) GUILTY
Count 19 (Securities Fraud) GUILTY
Count 20 (Securities Fraud) GUILTY
Count 22 (Securities Fraud) GUILTY
Count 23 (Securities Fraud) GUILTY
Count 24 (Securities Fraud) GUILTY
Count 25 (Securities Fraud) GUILTY
Count 26 (Securities Fraud) GUILTY
Count 31 (False Statements to Auditors) GUILTY
Count 32 (False Statements to Auditors) GUILTY
Count 34 (False Statements to Auditors) GUILTY
Count 35 (False Statements to Auditors) GULTY
Count 36 (False Statements to Auditors) GUILTY
Count 42 (Insider Trading) NOT GUILTY
Count 43 (Insider Trading) NOT GUILTY
Count 44 (Insider Trading) NOT GUILTY
Count 45 (Insider Trading) NOT GUILTY
Count 46 (Insider Trading) NOT GUILTY
Count 47 (Insider Trading) NOT GUILTY
Count 48 (Insider Trading) NOT GUILTY
Count 49 (Insider Trading) NOT GUILTY
Count 50 (Insider Trading) NOT GUILTY
Count 51 (Insider Trading) GUILTY

Kenneth L. Lay
Count 1 (Conspiracy) GUILTY
Count 12 (Wire Fraud) GUILTY
Count 13 (Wire Fraud) GUILTY
Count 27 (Securities Fraud) GUILTY
Count 28 (Securities Fraud) GUILTY
Count 29 (Securities Fraud) GUILTY

Billions of dollars was lost when one of the country's most prominent companies plunged into bankruptcy.

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Ed Mayberry

Local Anchor, All Things Considered

Ed Mayberry has worked in radio since 1971, with many of those years spent on the rock 'n' roll disc jockey side of the business...