Saturday, December 24, 2005
Kenny Boy gets a lump of coal for Christmas
In the excitement of Fitzmas we often forget the one who might be considered the granddaddy of Our Dear Embattled Leaders problems with corporate scandal, Kenny Boy Lay. With his trial about to begin, the WaPo reports that prosecutors may be set to flip a major player, his chief accountant.
Federal prosecutors are engaged in plea negotiations with former Enron Corp. official Richard A. Causey, working toward a deal that could provide crucial momentum for the government heading into the signature trial of the corporate scandal era.With Causey's testimony, it would be very difficult for Kenny Boy to wiggle out, even with a jury of CEO's. Perhaps justice will be done.
If an agreement is reached, it could be announced in a Houston courtroom as early as next week, according to sources briefed on the case who spoke on condition of anonymity because the negotiations are at a sensitive stage and still could fall apart.
Testimony from Causey, who as chief accountant stood at the center of complicated maneuvers that prosecutors allege helped Enron bury debt and inflate earnings, could help the government substantially streamline its fraud case against former chairman Kenneth L. Lay and Jeffrey K. Skilling. The three men are scheduled to stand trial in Houston on Jan. 17. They could face decades behind bars if they are convicted on fraud and conspiracy counts.
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