Word: layed
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Dates: during 2000-2009
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...KENNETH LAY, former Enron chief executive, testifying at his trial on charges of conspiring to defraud investors...
...even during questioning by his own lawyer, Lay appeared to avoid answering some questions directly, saying only what he wanted to say, when he wanted to say it. "Ken Lay wants you to believe he relied on his lawyers while at Enron, but he's not relying on them at trial," says Houston attorney Joel Androphy, author of a the textbook White Collar Crime. Lay's lead attorney, Mike Ramsey, has not returned to the courtroom after heart surgery. While his team of three attorneys, along with Lay's daughter Elizabeth Vittor, have been in charge since, Lay appears...
...Prosecutors expect to wrap up their cross-examination of Lay by Monday. In the second day of cross-examination, Hueston emphasized that while Lay was encouraging employees to take advantage of Enron's bargain stock price in fall 2001, Lay himself was selling stock. The shares Lay bought in the fall were publicly reported. But since he sold stock back to the company, the sales did not have to be reported until year-end - after Enron was bankrupt. Because of that, in October 2001, investors thought Lay owned more than double the amount of stock he actually had. Lay testified...
...Lay's testiness on the stand also got bad marks from courtroom observers. Lay accused the prosecutor, for example, of "mincing words" and making bizarre assumptions that made no business sense. "Lay is not helping himself by being so contentious, and frankly, arrogant," says Wynne. "He speaks with the cadence of Richard Nixon...
...Like Nixon, Lay's face naturally falls into a frown. On the stand, his brows drew together. His tongue flicked back and forth hitting the corners of his mouth. He tried to win the jury over during direct examination by talking about the three paper routes he had growing up and summers laboring on farms in Missouri. Lay, once a multimillionaire, also testified that he now drives a 13-year-old car and all his savings are gone...