Results tagged “enroncfoandrewfastow”

Three witnesses testified yesterday in the trial of Ken Lay and Jeff Skilling: one who criticized ex-Enron CFO Andrew Fastow's side deals, one who helped create them and one who had no idea who Fastow was. The one who criticized was Vince Kaminski, a former risk analyst at Enron who testified that ex-Enron Chairman Lay and ex-CEO Skilling ignored his concerns about side deals run by Fastow. Kaminski said his first bad reaction to the...

Former Enron CFO Andrew Fastow wrapped up his testimony yesterday, maintaining that he and other Enron executives broke the law despite hammering by defense lawyers. It was ex-Chairman Ken Lay's lawyer Mike Ramsey's turn to cross-examine Fastow on Monday, and he repeatedly accused Fastow of exaggerating his testimony to try to make himself look better.

As we enter the seventh week of the trial of ex-Enron Chairman Ken Lay and ex-CEO Jeff Skilling, the Chronicle takes a look at some of the iffy investments Enron made before it imploded. The foreign energy deals weren't nearly as stable as Enron execs indicated, but most of them are still operational — though, as the Chronicle notes, it's not clear how well they're doing today.

Defense lawyer Daniel Petrocelli went after ex-Enron CFO Andrew Fastow yesterday, trying to cast doubt on Fastow's previous testimony about the company's shady side financial deals and former CEO Jeff Skilling's involvement in them. It was Fastow's second day of cross-examination in the trial of Skilling and ex-Enron Chairman Ken Lay. On Tuesday, Fastow had testified about a "global galactic list" he made in 2000 to keep track with all Enron's side deals, which he...

Former Enron CFO Andrew Fastow delivered more goods for the prosecution during his testimony Wednesday and didn't back down from his accusations against Ken Lay and Jeff Skilling despite a full assault from Skilling's lawyer Daniel Petrocelli. In his second day of testimony in the trial of ex-Chairman Lay and ex-CEO Skilling, Fastow told jurors that Lay knowingly misled reporters and employees about the company's health.

Everyone expected former Enron CFO Andrew Fastow to deliver some dirt on the company during his first day of testimony in the Ken Lay/Jeff Skilling trial — and he did just that, describing a culture of greed and corruption that he says led Enron to pull all kinds of shady financial deals. Fastow said he thought of himself as a "hero" and indicated he thought his LJM side deals were keeping the company afloat, and...

Yesterday in the Lay/Skilling trial, defense lawyers hit witness Kevin Hannon right where it hurt: in the funny bone. Hannon, the former CEO of Enron Broadband Services, testified Thursday that ex-Enron CEO Jeff Skilling told executives during a May 2001 meeting, "They're on to us," referring to a Wall Street investment firm questioning Enron's earnings. On Monday, Skilling lawyer Mark Holscher asked Hannon whether Skilling might not have made the statement sarcastically: "Anything's possible," Hannon...

Sometimes it feels like the Ken Lay/Jeff Skilling trial has gone on for five weeks. Oh, wait.

Though ex-Enron Broadband Services head Ken Rice stuck by his story of misleading company directors, employees and analysts with regard to EBS' failing corporate health Thursday, he said he doesn't remember confronting former Enron CEO Jeff Skilling about the deception. Much of Rice's third day on the stand in the trial of Ken Lay and Skilling was spent under cross-examination by Mark Holscher, one of Skilling's lawyers, who tried to undermine some of Rice's accusations about deceptive earnings reports: