Originally published January 20 2006
Kenneth Lay appeals to Houston Forum by maintaining his innocence
by Mike Adams, the Health Ranger, NaturalNews Editor
At a luxurious luncheon populated by Houston's elite, former Enron CEO Kenneth Lay appealed to listeners by claiming that federal prosecutors are out to get him and are actively trying to obscure the truth behind the giant corporation's downfall, which Lay attributes solely to his chief financial officer, Andrew Fastow.
While most people accused of corporate crimes keep a low profile before going to trial, former Enron CEO Kenneth Lay defended himself in the court of public opinion on Dec. 13 at a luncheon in Houston.
Lay portrayed himself as a martyr persecuted by overzealous federal prosecutors more intent on getting a conviction than seeking the truth.
Lay pointed the finger of blame at Andrew Fastow, Enron's former chief financial officer, who pleaded guilty to conspiracy and securities fraud last year.
Fastow is expected to testify against Lay and two other former Enron executives, Jeffrey Skilling and Richard Causey, when the three are tried together for various corporate crimes next month.
He said it was the "stench" of Fastow's misconduct that led the investing public to lose confidence in Enron.
Says Houston attorney, David Berg, who defends white-collar criminals and follows the Enron case: "I'd never let a client make a speech like that because his words can and will be used against him."
It reminded Berg of Skilling's testimony during congressional hearings in 2002: "It's the ultimate in hubris for these guys to spout off like that," Berg says, adding that for Lay to deliver his speech before a wealthy crowd in a ballroom at an expensive hotel didn't help him, either.
Lay's attorney Mike Ramsey says the speech wasn't intended to influence jurors, which have already been selected, since the people attending the luncheon "are too smart to get on a jury that's going to last six months."
Rather, Ramsey says, "Our backs are against the wall" in getting witnesses to help with Lay's defense.
Lay urged Enron employees to "stand up" and be "truthsayers."
"If that's your only excuse -- that your CFO was running rampant -- then that's negligence," says David Holland, an investment banker.
With the trial scheduled to begin Jan. 17, it's the jurors' turn next to hear Lay.
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