Enron founder to face trial next year
Enron founder Kenneth Lay’s trial on charges related to his personal banking will be held next year, a Texas judge decided.
Lay, who faces a separate trial on fraud and conspiracy charges due to begin in January, is accused of lying to banks about his intention to use their loans to buy Enron stock on margin before the energy giant crashed in December 2001.
The case will go to trial within a “couple of hours” of the start of deliberations in the fraud and conspiracy case, US District Judge Sim Lake said.
The fraud and conspiracy trial, which includes former Enron CEO Jeffrey Skilling and former top accountant Richard Causey, is expected to last several months.
