RSS feedsTestifiying for a third day, Ken Lay, the founder and former boss of Enron claimed he did not lie about the state of the company’s finances to investors because he had the results verified by accountants and lawyers.
In response to the six fraud and conspiracy charges against him, Lay explaining how at each step he believed he was accurately describing the company's financial status, based on assurances from Enron's lawyers and accountants and using descriptions supplied by Enron's investor relations staff.
Lay claimed he was ‘reading from a script’ which he would ‘rarely deviate from it more than a word or two’.
Lay and former CEO Jeffrey Skilling are accused of conspiring to defraud investors Skilling also faces insider trading charges.
Both deny any wrongdoing.
