Corp-Ethics.com - Report: Enron bosses 'stole to pump egos'

Company	Enron [Company Info]
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Date	Issue	Title
15th May 2006	Fraud Investigation	Enron bosses 'stole to pump egos'

Report

Former Enron bosses Kenneth Lay and Jeffrey Skilling stole from investors both to line their pockets and stroke their egos, their trial has heard.

The comments came from prosecutors presenting their closing arguments at the court in Houston, Texas.

Prosecuting lawyer Kathy Ruemmler said the case centred around "the lies these men told and the choices they made".

Ms Ruemmler told the court on Monday that for both men "Enron was their ego".

"Make no mistake," she said. "There is absolutely nothing wrong with getting rich but you can't get rich by deception, by cheating."

The defence will make its closing arguments on Tuesday, and the jury is expected to begin its deliberations on Wednesday.

Mr Skilling, 52, Enron's one-time chief executive, faces 28 counts of fraud and conspiracy.

Mr Lay, 64, the firm's founder and former chairman, is charged with six such offences.

Both could be sentenced to more than 30 years in jail if convicted.

Other Reports on Enron
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26th Sep 2006	Fraud Investigation	Enron	Fastow gets six-year term
13th Aug 2006	Fraud Investigation	Enron	Prosecutors raise Enron boss fine
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11th May 2006	Fraud Investigation	Enron	Judge deals blow to Enron accused
26th Apr 2006	Fraud Investigation	Enron	Enron feared witch hunt, Lay says
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18th Apr 2006	Fraud Investigation	Enron	Skilling defends Enron share sale
13th Apr 2006	Fraud Investigation	Enron	Skilling slams Enron prosecutors
12th Apr 2006	Fraud Investigation	Enron	Enron 'held no cookie jar fund'
11th Apr 2006	Questionable Practice	Enron	Skilling denies cover-up at Enron
10th Apr 2006	Fraud Investigation	Enron	I'm innocent says ex-Enron chief
3rd Apr 2006	Fraud Investigation	Enron	Key Enron witness 'lied in court'
22nd Mar 2006	Fraud Investigation	Enron	Enron treasurer tells of 'lies'
16th Mar 2006	Fraud Investigation	Enron	Enron whistleblower condemns Lay
14th Mar 2006	Fraud Investigation	Enron	Key Enron witness 'duped bosses'
9th Mar 2006	Fraud Investigation	Enron	Lay 'lied about Enron finances'
7th Mar 2006	Fraud Investigation	Enron	Enron bosses hid massive losses
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27th Feb 2006	Fraud Investigation	Enron	Enron money man 'raided reserves'
13th May 2005	Fraud Investigation	Enron	Former Enron executive sentenced
9th Jan 2005	Fraud Investigation	Enron	Enron bosses agree $168m payout
3rd Nov 2004	Fraud Investigation	Enron	Convictions in Enron fraud trial
28th Jun 2004	Other Issue	Enron	Enron ex-boss breaks his silence

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