Homepage / Money
Related To Story

Prosecutor Grills Skilling In Enron Trial

Lay Gives Skilling Good Reviews

POSTED: 7:20 am MST April 19, 2006
UPDATED: 7:34 am MST April 19, 2006

Jeffrey Skilling didn't lose his temper on the stand on Tuesday, but the ex-CEO appeared to be seething during testimony in the Enron trial.

Federal prosecutor Sean Berkowitz pushed Skilling about bad investments held in off-the-books structures. Prosecution witnesses have said the strategy was used to hide losses.

Skilling occasionally answered with sarcasm or tried to give long explanations, but Berkowitz prompted him for "yes" or "no" or short answers.

The government said Enron's obsession with meeting or beating Wall Street expectations led executives to hide losses and inflate earnings. But Skilling testified on Tuesday that "every company tries to hit their earnings targets."

The Houston-based energy giant collapsed into bankruptcy amid scandal in late 2001.

Skilling and Enron founder Kenneth Lay are charged with fraud and conspiracy.

The federal fraud and conspiracy trial is in its 12th week.

Lay, who was expected to begin testifying next week, gave high marks to Skilling for his testimony so far.

"I think Mr. Skilling did a great job today," Lay said Tuesday.

Skilling faces 28 counts of fraud, conspiracy, insider trading and lying to auditors for allegedly lying about Enron's financial strength.

Lay faces six counts of fraud and conspiracy for perpetuating the alleged scheme after Skilling resigned in August 2001.

They say they did nothing wrong.


Links We Like

Sponsored Content
Find out what a sputtering economy and an increasingly difficult to crack job market means to you. More

Thinking of remodeling? You don't have to spend a lot to add home value. See how even small updates can reap big financial returns. More

You don't need a gym to start a fitness plan. Try these tips on exercising by using your daily activities. More

Check out some of the most notorious police car chase scenes ever caught on tape. Don’t try this at home. More

Credit Report

560? 675? 720? The average US Credit Score is 692. What is your score? See it online for FREE! More

Best Local Rates On...



LocalNational

30 Yr Fixed Mortgage5.12%5.02%

48 Mo New Car Loan7.92%6.52%

$30k Home Eq Loan8.02%7.81%

6 Month CD0.78%0.80%
Help! I don't understand!
More Rates


Sponsored Links

Stock Quotes

Get a Quote
Enter Symbol


CBS 5 Gas Tracker

Which service stations sell the cheapest gas? What are gas prices doing in my zip code? Use our new mapping and charting tools before getting that next tank of gasoline. More


Gas Price Calculator

Gas prices
Before you fill up for your next trip, prepare your pocketbook with our gas price calculator. More

E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters