Not guilty plea for former Enron chief 1 First With The News Edition

[Kenneth Lay] could face up to 175 years in jail and $US5.75 million ($7.98 million) in fines if convicted on all counts. Bail was set at $US500,000, US Magistrate Judge Mary Milloy said. Lay, a friend to President George W. Bush -- who called him "Kenny Boy" -- appeared calm and relaxed a...

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Published inThe Courier-mail
Main Author C Bryson Hull and Matt Daily
Format Newspaper Article
LanguageEnglish
Published Brisbane, Qld Nationwide News Pty Ltd 10.07.2004
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Summary:[Kenneth Lay] could face up to 175 years in jail and $US5.75 million ($7.98 million) in fines if convicted on all counts. Bail was set at $US500,000, US Magistrate Judge Mary Milloy said. Lay, a friend to President George W. Bush -- who called him "Kenny Boy" -- appeared calm and relaxed as he entered FBI offices yesterday morning. The 11 counts against Lay were detailed in a 65-page indictment unsealed by the US Justice Department. They were added to an earlier indictment against Jeff Skilling, who was Lay's hand-picked successor as CEO, and former chief accounting officer Rick Causey, indicating that they would be tried together. "He (Lay) didn't have any idea of the depth of the problem until after they filed for bankruptcy," Mr [Mike Ramsey] said. "At a company as big as Enron, you have to trust someone."
ISSN:1322-5235