Prosecutors want former Enron execs to turn over $183M in assets

[JURIST] Federal prosecutors Friday argued that the homes and other assets owned by former Enron [corporate website] executives Kenneth Lay and Jeffrey Skilling [Houston Chronicle profiles] were obtained by fraud, and petitioned a judge to order the two men to turn over nearly $183 million in assets. Last month, a jury in Houston convicted [JURIST report] Lay on all six fraud and conspiracy counts [verdict slip, PDF] against him, and convicted Skilling of 19 out of 28 securities and wire fraud and insider trading counts [verdict slip, PDF].

Prosecutors must show that the pair acquired the property and money using funds from their roles in the corporate conspiracy scandal. Lay and Skilling will be sentenced [JURIST report] later this year with Lay facing a maximum of 45 years in prison for conspiracy and fraud, while Skilling faces a maximum sentence of 185 years for his conviction. The Washington Post has more.

 

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