Opening arguments were expected to begin Tuesday in the trial of former Enron Corp. Chairman Kenneth Lay and CEO Jeffrey Skilling, after a 12-member jury and four alternates were chosen Monday in Houston. Lay, 63, faces seven counts of fraud and conspiracy. Skilling, 52, faces 31 counts of fraud, conspiracy, insider trading and deceiving auditors. Following the joint trial, Lay also faces four charges of bank fraud involving his personal banking.

As promised by presiding U.S. District Judge Sim Lake, a jury pool of 54 women and 38 men was whittled down to 16 before 5 p.m. CST. Lake told lawyers last week to have opening arguments ready for Tuesday.

Downtown Houston took on something of a carnival appearance Monday, as dozens of international television, radio and newspaper reporters, photographers and a few protesters loitered in front of the federal courthouse in hopes of talking with Lay, Skilling or a member of their defense teams.

About 100 assorted journalists and photographers swarmed Lay, who arrived at the courthouse early Monday, accompanied by his wife, Linda. He looked relaxed, smiling and waving to the crowd. When a reporter shouted out, “Is this a chance to clear your name?,” he replied, “It certainly is.” A few minutes later, Skilling arrived with his lead attorney Daniel Petrocelli, but he declined to comment.

“We have some of the finest lawyers in the United States trying this case,” Lake said in his opening comments. The trial promises to be one of the “most interesting and important cases ever tried.” But Lake also warned it could last four months.

“We are not looking for people who want to right a wrong or provide remedies for those who suffered because of the collapse of Enron,” Lake said. He soon began taking individual jurors outside of open court so that he and the lawyers could question each one individually. By 4 p.m., the group had been reduced to 38, and Lake then gave the lawyers 30 minutes total to pick the potential jurors to exclude. Defendants were allowed 14 strikes, including strikes for alternates; prosecutors were allowed eight strikes. The first 16 people left were named to the jury panel, allowing for four alternates.

The jury will not be sequestered; members will be called back every Monday through Thursday as requested until the trial is completed.

©Copyright 2006Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.