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Trial News
Statements Concerning Verdict In Criminal Trial
Washington, D.C., May 25, 2006 - The following statements were issued today concerning the verdict in the criminal trial of Kenneth Lay and Jeffrey Skilling:
SEC Chairman Christopher Cox said, "The government's successful prosecution of Kenneth Lay and Jeffrey Skilling is a victory for the shareholders and employees of Enron and the American public. We applaud the work of the Department of Justice, the Enron Task Force, the FBI, the trial team, and all of the professionals who have devoted years of their lives to the achievement of this milestone in securities law enforcement. The verdict makes clear that high level corporate executives who deceive the investing public for personal gain will be held fully accountable. The result in the Enron criminal trial is a victory for all Americans, whose jobs and economic security depend on the integrity of our capital markets."
Linda Thomsen, Director of the Division of Enforcement, said, "The jury's verdict against Kenneth Lay and Jeffrey Skilling affirms that the primary duty of corporate leaders is to put their employees, shareholders, and the investing public first. Equally true, the verdict leaves no doubt that corporate executives are obligated to conduct business honestly and to present a true and accurate picture of the company's business and finances to the public. Those who undermine the integrity of our financial system will be held accountable and the consequences will be severe. By selfishly putting their interests first, Mr. Lay and Mr. Skilling are now deservedly subject to criminal sanctions, including prison time. We commend the efforts of the Enron Task Force in bringing justice to the victims of the Enron fraud."
NJ Lawyers' Fund For Client Protection
During the fourth quarter of 2006, the New Jersey Lawyers' Fund for Client Protection, funded by the state's lawyers and judges, awarded $1,179,686... Read more >
Definition:
The unjustified retention of the possession of lands by one whose original entry was lawful and of right, but whose right to possession has terminated and who refuses to vacate the premises.
Arraignment
Definition:
The court proceeding during which a person is informed of the charges against him or her.
Release on Recognizance (ROR)
Definition:
To be released from custody without bail while a case is pending. This is often referred to as parole.
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