IE 11 is not supported. For an optimal experience visit our site on another browser.

Ex-Enron CEO asks for speedy trial

/ Source: The Associated Press

Enron Corp. founder Kenneth Lay asked a federal judge Monday to sever his case from his co-defendants and allow him to go to trial Sept. 14.

Lay's lawyer made the requests in motions filed Monday, including that U.S. District Judge Sim Lake decide the case if it would take too long to seat a jury.

Lake will hear arguments related to the motions on Wednesday.

Last month, Lay, 62, was charged with 11 counts of conspiracy, fraud and lying to banks about whether loans would be used to buy margin stock. His indictment came two and a half years into the Justice Department's investigation into the bankrupt energy trading company that collapsed amid revelations of hidden debt and inflated profits accomplished through a tangle of accounting trickery.

Lay was added to an indictment that named former accounting chief Richard Causey, 44, who initially was indicted in January on conspiracy and fraud charges. Causey's indictment came just a week after his one-time peer, former Enron finance chief Andrew Fastow, pleaded guilty to two counts of conspiracy. Fastow admitted to orchestrating schemes to hide Enron debt and inflate profits while pocketing millions of dollars for himself on the side.

In February, former chief executive Jeffrey Skilling, 50, was added as a defendant to the Causey indictment, both charged with more than 30 counts of insider trading, fraud, conspiracy and lying to auditors.

While the charges against Skilling and Causey allege crimes over several years leading up to Enron's December 2001 collapse, the conspiracy and fraud charges against Lay focus on the last few months of that year. Specifically, prosecutors allege Lay took over the reins of the conspiracy upon Skilling's abrupt resignation in August 2001.

All three have pleaded not guilty.