Doc Mercer
EOG Master
May 23, 2006, 1:56AM
THE ENRON TRIALS
Lay admits mistakes
But he tells the judge he didn't mean to break law and defraud banks
By MARY FLOOD
Copyright 2006 Houston Chronicle
Former Enron Chairman Ken Lay told a federal judge Monday that he repeatedly violated the banking regulations he's accused of flouting but he didn't realize he was doing it at the time.
If U.S. District Judge Sim Lake finds that Lay truly didn't know he was breaking the law and didn't intend to defraud three banks, he could be acquitted on the four personal banking charges being tried before the judge without a jury.
"There's no doubt that we did not fully comply with those documents," Lay said on questioning from his attorney Ken Carroll.
Lay, who called himself the "principal" of this second trial rather than the defendant, is accused of one count of bank fraud and three counts of making false statements to banks. This is over his breaking written promises to the banks that he would not use certain credit lines to buy stock.
(snip/...)
http://chron.com/disp/story.mpl/front/3881289.html
THE ENRON TRIALS
Lay admits mistakes
But he tells the judge he didn't mean to break law and defraud banks
By MARY FLOOD
Copyright 2006 Houston Chronicle
Former Enron Chairman Ken Lay told a federal judge Monday that he repeatedly violated the banking regulations he's accused of flouting but he didn't realize he was doing it at the time.
If U.S. District Judge Sim Lake finds that Lay truly didn't know he was breaking the law and didn't intend to defraud three banks, he could be acquitted on the four personal banking charges being tried before the judge without a jury.
"There's no doubt that we did not fully comply with those documents," Lay said on questioning from his attorney Ken Carroll.
Lay, who called himself the "principal" of this second trial rather than the defendant, is accused of one count of bank fraud and three counts of making false statements to banks. This is over his breaking written promises to the banks that he would not use certain credit lines to buy stock.
(snip/...)
http://chron.com/disp/story.mpl/front/3881289.html
