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November 09, 2004

Former Enron CEO Seeks to Move Trial

Former Enron CEO Jeffery Skilling is asking a federal court that his trial for fraud, insider trading, and conspiracy related to the collapse of Enron be moved out of Houston

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Skilling will stand trial together with former Enron Chairman Ken Lay and former Chief Accounting Officer Richard Causey for their actions which contributed to Enron’s December 2001 bankruptcy.  Skilling and his attorneys feel that any jury selected in Houston, which was Enron’s hometown, would be biased and that the trial therefore should be transferred to another metropolitan city.  Enron’s collapse had a negative effect on Houston’s economy, it resulted in the loss of many jobs and pensions and lowered real estate prices.  As a result, Skilling’s attorneys feel that he could not get a fair trial in Houston.

In the first case connected to Enron’s bankruptcy, a Houston jury found five individuals guilty of conspiracy and fraud.  One was a mid-level executive for Enron, and four were former Merrill Lynch bankers.  However, the same jury also acquitted an Enron accountant of fraud.

Posted by Mandy Gibbs at 09:51 PM in Bankruptcy & Debtor/Creditor | Permalink

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