Founder

The defense teams for Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling launched their attack on Monday, putting up a string of lower level ex-employees who countered bits of the testimony by some of the prosecution’s ex-Enron executives.

Over nine weeks, the government has built a case against Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling brick-by-brick, with more than 20 witnesses claiming the men not only knew about the problems at the company but also took an active part in deceiving shareholders, Wall Street and the media about its true financial condition. On Monday, the defense teams will attempt to chip away at the testimony piece by piece.

Federal prosecutors rested their case Tuesday in the fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling after filing a motion to drop three charges against Skilling and one against Lay. The defense, which was denied motions for acquittal, will open its case Monday.

Former Enron Corp. treasurer Ben Glisan Jr. remained steady in his last day of testimony Monday, as defense lawyers for Enron founder Kenneth Lay and ex-CEO Jeffrey Skilling attempted to distance their clients from any wrongdoing.

In some of the most explosive testimony in the nine-week-old fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling, former treasurer Ben Glisan Jr. last week told jurors Lay and Skilling lied on several occasions to investors and analysts about the true financial condition of the company. In one instance, Glisan recounted how Lay asked him to determine Enron’s total 3Q2001 losses by first determining what amount would lower the company’s credit rating.

In some of the most explosive testimony against Enron Corp. founder Kenneth Lay, ex-treasurer Ben Glisan Jr. on Wednesday told jurors Lay was in charge of a financial scheme in late 2001 in which he asked Glisan to determine Enron’s total 3Q2001 losses by first determining what amount would lower the company’s credit rating.

The defense team grabbed the spotlight last week in the trial of Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling by attempting to tear down former CFO Andrew Fastow’s credibility. Lawyers for Skilling and Lay went right to the heart of their defensive strategy, telling the jury that Fastow was a devious accountant and skilled liar who duped his bosses, stole millions and pushed the company toward financial ruin.

Lawyers for Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling went right to the heart of their defense strategy on Monday, telling the jury ex-CFO Andrew Fastow was a devious accountant and skilled liar who duped his bosses, stole millions and pushed the company toward financial ruin. Fastow, in his fourth day of testimony in the seven-week-old trial, has admitted to stealing and lying from the company, but he testified last week Lay and Skilling also deceived shareholders and analysts about Enron’s true financial state.

In some of the most explosive and combative testimony to date in the trial of Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling, ex-CFO Andrew Fastow testified last week that Skilling used off-the-book partnerships to illegally revise earnings beginning in 1999, and told jurors that Lay not only knew about the financial shenanigans before the company dissolved into bankruptcy but also actively took part in deceiving shareholders and the news media.