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May 25, 2006
Guilty
From CNN:
Skilling was found guilty on 19 counts of conspiracy, fraud, false statements and insider trading. He was found not guilty on eight counts of insider trading.
Lay was found guilty on all six counts of conspiracy and fraud. In a separate bench trial, Judge Sim Lake ruled Lay was guilty of four counts of fraud and false statements.
Both Lay and Skilling could face 20 to 30 years in prison, legal experts say.
Judge Lake set sentencing for the week of Sept. 11 and ordered Lay to surrender his passport and post a cash bond. No home confinement was ordered.
Posted by edelfenbein at May 25, 2006 1:30 PM
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