Word: causey
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Enron's former chief accountant, Richard Causey, pleaded guilty to securities fraud last week. Causey will probably testify against ex-bosses Kenneth Lay and Jeffrey Skilling. Here's what the plea could mean for their trial, set to start...
...Ph.D. in economics, Lay was spared being charged with approving Enron's now famous off-the-books partnerships that hid so much debt for so long. And unlike the two former colleagues he will be tried with--Enron's onetime CEO Jeffrey Skilling and chief accounting officer Richard Causey--Lay wasn't charged with insider trading by the Justice Department (although last week the Securities and Exchange Commission did so in a separate, $90 million suit in civil court, where the standard of proof is less stringent). Instead, the bulk of the charges against Lay allege that he helped keep...
...wake of the indictments, the behavior of Enron's former management team has run the gamut from arrogant (this spring Causey asked a judge to unfreeze some of his assets to pay for a country-club membership) to paranoid (in April, Skilling got picked up by police following a drunken scuffle in which he accused fellow bar patrons of being undercover FBI agents) to surprisingly defiant. Lay launched a p.r. blitz last week, using a post-indictment press conference to express grief at his failure to save the company while angrily proclaiming his innocence. "Failure does not equate...
...INDICATORS Number Crunching Richard Causey, former chief accountant at Enron, denied multiple charges of securities fraud after surrendering to U.S. authorities. Prosecutors allege Causey was "a principal architect" in manipulating the failed energy firm's financial results...
...should be mandatory. Part of that testing should be reaction-time-based (developed by physicists) and really show how dangerous a driver can be, especially to him/herself. Should independence for one person cost the life of another human being? Driving is a privilege, not a right. Be responsible. Mary Causey Pittsburgh...