Jury empaneled, opening arguments begin in first Enron criminal trial

Following up on a report Monday on JURIST's Paper Chase, jury selection was completed and opening arguments began Tuesday morning in the first criminal trial in the fallout of the Enron Corp. scandal. On trial are six defendants, two former executives from Enron itself and four from Merrill Lynch, facing charges of fraud and conspiracy.

The case involves the allegedly fake transfer of valueless barges from Enron to Merrill Lynch, which then returned the assets after profits reports were made. The trial is expected to be a test of prosecutors' ability to flesh out for a jury the complicated accounting tactics involved in the charges. The full indictment of the six can be viewed here [PDF]. The Houston Chronicle has an overview of the trial and more.

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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