It was certainly not a sexy case. It relied on a lot of numbers, a lot of papers, and a lot of things that most people would not find sexy in a case. However, it was a massive case of fraud and the AUSAs who tried the case obtained the verdict from the jurors today.
Kenneth Lay and James Skilling are no longer suspected of committing fraud. The jury today found them guilty. Mr. Lay as convicted on six counts of conspiracy and fraud. Mr. Skilling was found guilty of 19 counts of of conspiracy, fraud, false statements, and insider trading. Lay was also convicted by a the U.S. District Court Judge of four counts of fraud on charges which were tried the bench only. Of the entire indictment, only Skiling managed any acquittals. The jury found him not guilty on nine counts of insider trading. Pretty damn good!
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