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Company Enron [Company Info]
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Date Issue Title
11th May 2006 Fraud Investigation Judge deals blow to Enron accused

Report
The judge in the Enron trial has ruled that jurors can find the energy firm's former bosses guilty of deliberately avoiding knowledge of massive fraud.

The ruling has raised concerns among the defence team and legal experts.

Known as the "ostrich instruction", because it refers to a person sticking their head in the sand, the ruling means that prosecutors will need a lower burden of proof to be successful.

However, Mr Skilling's lawyers said that they were concerned by the judge's decision.

"We have never asserted the ostrich defence," said Mr Skilling's lawyer, Daniel Petrocelli.

"We have said all along this was not a case of hear no evil, see no evil. It was a case of there was no evil."

Legal experts said that another worry was that the prosecution has not followed a line of argument that would allow for this verdict.

Speaking to the New York Times, law professor Ellen Podgor said that instead of showing that Mr Lay and Mr Skilling shielded themselves from the truth, the prosecution has claimed they deliberately chose to mislead investors and staff.

"They have presented a case where this guy was on a soap box telling public lies," she explained.

Lawyers for Mr Lay and Mr Skilling rested their defence on Monday and jury deliberations are due to start next week. The trial has been running for 15 weeks.

During questioning that has often been emotional and combative, Mr Lay has portrayed himself as a trusting man who was let down by corrupt staff, especially former finance chief and prosecution witness Andrew Fastow.

Other Reports on Enron
Date Issue Company Report
26th Sep 2006 Fraud Investigation Enron Fastow gets six-year term
13th Aug 2006 Fraud Investigation Enron Prosecutors raise Enron boss fine
25th May 2006 Fraud Investigation Enron Lay and Skilling guilty
15th May 2006 Fraud Investigation Enron Enron bosses 'stole to pump egos'
26th Apr 2006 Fraud Investigation Enron Enron feared witch hunt, Lay says
24th Apr 2006 Fraud Investigation Enron Lay 'devastated' by Enron failure
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
1st Mar 2006 Fraud Investigation Enron Enron 'pretty fast and loose with its rules'
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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