Thursday, January 19, 2006

T Minus 11 Days Until Lay/Skilling Trial

As Reuters reports in the Washington Post, a federal judge in Houston decided several key evidentiary points for the trial of former Enron CEOs/gurus Ken Lay and Jeffrey Skilling, scheduled to begin January 30.

The judge will NOT allow testimony about Ken Lay allegedly covering up an oil trading scandal in 1987, nor will any evidence about Enron's manipulation of the California energy markets in 2000-1 be admitted. The judge ruled the evdience irrelevant to the specific charges against Lay and Skilling.

I'm no legal expert, but if one of the charges against Lay and Skilling is that they covered up Enron's massive account imbalances in an effort to maintain stock price, it sure seems like past cover-ups by either man would be relevant.

The judge also ruled that the defense can't introduce evidence of philandery or the use of drugs or pornogrpahy by the government's witnesses.

The defendants are also still seeking to move the trial from Houston, Enron's hometown, to another city due to what they claim will be their inability to get a fair trial. the judge has so far resisted these efforts.

We'll keep you posted.

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I would highly recommend watching Enron: The Smartest Guys in the Room before there trials start. The movie did a great job uncovering the truth and the unreal amount of fraud involved. www.enronmovie.com for more.
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