Trials of the Century (Ep. 26): The Enron Trial (Kenneth Lay & Jeffrey Skilling)

Imagine a corporate darling of finance, one of the largest and most innovative companies in the world, an industry leader with capable management at the helm that showed nothing but promise, with financial statements and outlooks to support that feeling of optimism. Then imagine that market giant collapsing into a void of financial losses and scandal.

When you imagine this financial giant, what company do you think of? FTX? Close, but think older... Theranos? Closer, but just a little bit further back...
That's right, ENRON.

At the turn of the century, Enron was the talk of the town; it was the largest seller of natural gas in North America, the fifth largest corporation in the U.S., and according to Fortune magazine, it was the nation's "most innovative" large company. Just a few months later in November of 2001, Enron's stock price crashed almost overnight and on December 2, 2001, the company filed for bankruptcy. After the fall of Enron, investigators uncovered evidence of corporate arrogance, greed, and fraud of an unprecedented level. IS ANY OF THIS SOUNDING FAMILIAR YET?!?!

Ken Lay and Jeff Skilling served as Chief Executive Officer for Enron (at different times) and were indicted on charges including conspiracy to commit securities fraud, four counts of securities fraud and two counts of wire fraud, one count of bank fraud and three counts of making false statements to a bank facing charges of fraud, insider trading, and conspiracy. The trial that took place in Houston, Texas during the winter and early spring of 2006 is, without any doubt, a Trial of the Century!

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Trials of the Century is a collaboration between @RunkleOfTheBailey @ScottCardinal and @LawLumber. If you want to see more of this series, please subscribe and enable notifications so that you can stay up to date on new episodes as they are released.

If you're new to the series, or if you want to rewatch an earlier episode, you can find them here:
Episode #01: https://youtu.be/kEhta6Y8YG8 (Charles Lindburgh)
Episode #02: https://youtu.be/iSHmhESuSsw (Lizzie Borden)
Episode #03: https://youtu.be/Pdf9rsWtrmg (John Lennon)
Episode #04: https://youtu.be/xCOnW4rjxSU (HH Holmes)
Episode #05: https://youtu.be/wLtWokCSmrs (Scopes Trial)
Episode #06: https://youtu.be/Tj_2XRr6HfI (R. v Dudley & Stephens)
Episode #07: https://youtu.be/5R-gNgDSkbY (Abraham Lincoln)
Episode #08: https://youtu.be/4iDEVWD7KWE (McDonalds Coffee)
Episode #09: https://youtu.be/xTgobEl_NL0 (Leopold & Loeb)
Episode #10: https://youtu.be/pbgdRdqVe_o (Kitty Genovese)
Episode #11: https://youtu.be/dhf2zk-bjFo (Sacco and Vanzetti)
Episode #12: https://youtu.be/cH5V6Pa0JmE (Twilight Zone Movie)
Episode #13: https://youtu.be/OIpIFcNCsTY (Kidnapping & Trial of Patty Hearst)
Episode #14: https://youtu.be/NNK8cIwptVg (The Boston Massacre)
Episode #15: https://youtu.be/oW0JoSFaxVI (Guy Paul Morin)
Episode #16: https://youtu.be/FrEk4RybnGI (Salem Witch Trials. Part 01)
Episode #17: https://youtu.be/IgpPX9Oc26Q (Salem Witch Trials. Part 02)
Episode #18: https://youtu.be/NeL3kVYy3t0 (Salem Witch Trials. Part 03)
Episode #19: https://youtu.be/2oD_FKXDwns (Salem Witch Trials. Part 04)
Episode #20: https://youtu.be/rrU8DrFQUMA (Lenny Bruce)
Episode #21: https://youtu.be/1eIX8ye5Zes (Lindy Chamberlain)
Episode #22: https://youtu.be/eIHtdF3RKUo (Sam Sheppard)
Episode #23: https://youtu.be/x0qph-x56Ag (Joan of Arc)
Episode #24: https://youtu.be/Jpd0HjAHbI4 (Burke & Hare)
Episode #25: https://youtu.be/oE5Hb_s62PE (Theresa Jackson)

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THIS VIDEO IS FOR INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. PLEASE CONSULT WITH COUNSEL IN YOUR JURISDICTION.