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Trial Of Kenneth Lay And Jeffrey Skilling
The trial of Kenneth Lay, former chairman and Chief executive officer, CEO of Enron, and Jeffrey Skilling, former CEO and Chief operating officer, COO, was presided over by federal district court Judge Sim Lake in the United States District Court for the Southern District of Texas, Southern District of Texas in 2006 in response to the Enron scandal. Timeline * The trial began on January 30, 2006. * Opening arguments ** The defense argued there was much "wickedness", and pressure led to confessions by company leaders, and failure of "market confidence" led to the financial crisis. According to the ''East Bay Times'', the defense "went so far as to suggest 13 of the 16 Enron executives who have pleaded guilty to federal crimes were innocent but caved in to intense pressure from federal prosecutors." ** The prosecution argued that leaders lied to Wall Street and investors about "crumbling finances". * Eight former Enron executives testified, the star witness being Andrew Fastow, agai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth Lay
Kenneth Lee Lay (April 15, 1942 – July 5, 2006) was an American businessman and political donor who was the founder, chief executive officer and chairman of Enron. He was heavily involved in Enron scandal, Enron's accounting scandal that unraveled in 2001 into the largest bankruptcy ever to that date. Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud at trial of Kenneth Lay and Jeffrey Skilling, trial. Lay died in July 2006 while vacationing in his house near Aspen, Colorado, three months before his scheduled sentencing. A preliminary autopsy reported Lay died of a heart attack caused by coronary artery disease. His death resulted in a vacated judgment. Conspiracy theory, Conspiracy theories regarding Lay's death surfaced, alleging that it was faked. Lay left behind "a legacy of shame" characterized by "mismanagement and dishonesty". In 2009 a list posted on Portfolio.com ranked Lay as the third-worst American CEO of all time. His actions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Red Ink
Rubrication is the addition of text in red ink to a manuscript for emphasis. Practitioners of rubrication, so-called ''rubricators'' or ''rubrishers'', were specialized scribes who received text from the original scribe. Rubrication was one of several steps in the medieval process of manuscript making. The term comes from the Latin , "to color red", the base word being , "red". The practice began in pharaonic Egypt with scribes emphasizing important text, such as headings, new parts of a narrative, etc., on papyri with red ink. History The practice of rubrication usually entailed the addition of red headings to mark the end of one section of text and the beginning of another. Such headings were sometimes used to introduce the subject of the following section or to declare its purpose and function. Rubrication was used so often in this regard that the term ''rubric'' was commonly used as a generic term for headers of any type or color, though it technically referred only to hea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2006 In United States Case Law
6 (six) is the natural number following 5 and preceding 7. It is a composite number and the smallest perfect number. In mathematics A six-sided polygon is a hexagon, one of the three regular polygons capable of tiling the plane. A hexagon also has 6 edges as well as 6 internal and external angles. 6 is the second smallest composite number. It is also the first number that is the sum of its proper divisors, making it the smallest perfect number. It is also the only perfect number that doesn't have a digital root of 1. 6 is the first unitary perfect number, since it is the sum of its positive proper unitary divisors, without including itself. Only five such numbers are known to exist. 6 is the largest of the four all-Harshad numbers. 6 is the 2nd superior highly composite number, the 2nd colossally abundant number, the 3rd triangular number, the 4th highly composite number, a pronic number, a congruent number, a harmonic divisor number, and a semiprime. 6 is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Crime
In criminology, corporate crime refers to crimes committed either by a corporation (i.e., a business entity having a separate legal personality from the natural persons that manage its activities), or by individuals acting on behalf of a corporation or other business entity (see vicarious liability and corporate liability). For the worst corporate crimes, corporations may face judicial dissolution, sometimes called the "corporate death penalty", which is a legal procedure in which a corporation is forced to dissolve or cease to exist. Some negative behaviours by corporations may not actually be criminal; laws vary between jurisdictions. For example, some jurisdictions allow insider trading. Corporate crime overlaps with: * white-collar crime, because the majority of individuals who may act as or represent the interests of the corporation are white-collar professionals; * organized crime, because criminals may set up corporations either for the purposes of crime or as vehicles ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JURIST
A jurist is a person with expert knowledge of law; someone who analyzes and comments on law. This person is usually a specialist legal scholar, mostly (but not always) with a formal education in law (a law degree) and often a Lawyer, legal practitioner. In the United Kingdom the term "jurist" is mostly used for legal academics, while in the United States the term may also be applied to a judge. With reference to Roman law, a "jurist" (in English) is a jurisconsult (''iurisconsultus''). The English term ''jurist'' is to be distinguished from similar terms in other European languages, where it may be synonymous with legal professional, meaning anyone with a professional law degree that qualifies for admission to the legal profession, including such positions as judge or attorney. In Germany, Scandinavia and a number of other countries ''jurist'' denotes someone with a professional law degree, and it may be a protected title, for example Legal education in Norway, in Norway. Thus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vacated Judgment
A vacated judgment (also known as vacatur relief) is a legal judgment that legally voids a previous legal judgment. A vacated judgment is usually the result of the judgment of an appellate court, which overturns, reverses, or sets aside the judgment of a lower court. An appellate court An appellate court, commonly called a court of appeal(s), appeal court, court of second instance or second instance court, is any court of law that is empowered to hear a case upon appeal from a trial court or other lower tribunal. Appel ... may also vacate its own decisions. Rules of procedure may allow vacatur either at the request of a party (a motion to vacate) or '' sua sponte'' (at the court's initiative). A vacated judgment may free the parties to civil litigation to re-litigate the issues subject to the vacated judgment. Another means of having a vacated judgment would be if the defendant dies prior to all appeals being exhausted. Notable defendants having their convictions vac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Skilling V
Skilling may refer to: ;Places * Skilling, Dorset, England * Skilling Island, Antarctica ;People * Chauncey Fitch Skilling (1868–1945), American architect * H. Gordon Skilling (1912–2001), Canadian political scientist * Hugh H. Skilling (1905-1990), American electrical engineer and textbook author * Jeffrey Skilling (born 1953), American former CEO of Enron Corporation, brother of Tom Skilling * John Skilling (1921–1998), American civil engineer and architect * Mark Skilling (born 1972), Scottish footballer * Tom Skilling (born 1952), American meteorologist in Chicago, Illinois, brother of Jeffrey Skilling ;Other * Skilling (Scandinavian monetary unit), a historical form of currency * ''Skilling v. United States ''Skilling v. United States'', 561 U.S. 358 (2010), is a Supreme Court of the United States, United States Supreme Court case interpreting the honest services fraud statute, . The case involves former Enron CEO Jeffrey Skilling and the honest ser ...'', a U.S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Honest Services Fraud
Honest services fraud is a crime defined in (the federal mail and wire fraud statute), added by the United States Congress in 1988. The idea of this law was to criminalize not only schemes to defraud victims of money and property, but also schemes to defraud victims of intangible rights such as the "honest services" of a public official. The 1988 statute states "For the purposes of this chapter, the term ''scheme or artifice to defraud'' includes a scheme or artifice to deprive another of the intangible right of honest services." The statute has been applied by federal prosecutors in cases of public corruption as well as in cases in which private individuals breached a fiduciary duty to another. In the former, the courts have been divided on the question of whether a state law violation is necessary for honest services fraud to have occurred. In the latter, the courts have taken differing approaches to determining whether a private individual has committed honest services fraud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information are illegal. The rationale for this prohibition of insider trading differs between countries and regions. Some view it as unfair to other investors in the market who do not have access to the information, as the investor with inside information could potentially make larger profits than an investor without such information. However, insider trading is also prohibited to prevent the director of a company (the insider) from abusing a company's confidential information for the director's personal gain. The rules governing insider trading are complex and vary significantly from country to country as does the extent of enforcement. The definition of insider in one jurisdiction can be broad and may cover not only insiders themselves but also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wire Fraud
Mail fraud and wire fraud are terms used in the United States to describe the use of a physical (e.g., the U.S. Postal Service) or electronic (e.g., a phone, a telegram, a fax, or the Internet) mail system to defraud another, and are U.S. federal crimes. Jurisdiction is claimed by the federal government if the illegal activity crosses interstate or international borders. Mail fraud Mail fraud was first defined in the United States in 1872. provides: Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter, give away, distribute, supply, or furnish or procure for unlawful use any counterfeit or spurious coin, obligation, security, or other article, or anything represented to be or intimated or held out to be such counterfeit or spurious article, for the purpose of executing such scheme or artifice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Fraud
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information."Securities Fraud Awareness & Prevention Tips faq by FBI, accessed February 11, 2013 The setups are generally made to result in monetary gain for the deceivers, and generally result in unfair monetary losses for the investors. They are generally violating securities laws. Securities fraud can also include outright theft from investors ( embezzlement by [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kathryn Ruemmler
Kathryn H. Ruemmler (born April 19, 1971) is an attorney who was principal deputy White House counsel and then White House Counsel to President Barack Obama. Previously a partner at Latham and Watkins co-chairing its white-collar defense group, Ruemmler joined Goldman Sachs in 2020 as a Partner and Global Head of Regulatory Affairs. In 2021, she was promoted to Chief Legal Officer and General Counsel. Early life and education A graduate of Richland High School in Richland, Washington, Ruemmler received a Bachelor of Arts in English from the University of Washington, and earned her Juris Doctor from Georgetown University Law Center. She also was editor-in-chief of the ''Georgetown Law Journal''. Career Ruemmler clerked for Judge Timothy K. Lewis on the Third Circuit in 1996 and 1997 . From 2000 to 2001, she was Associate Counsel to President Clinton. She worked as a federal prosecutor from 2001 to 2007, first as an Assistant United States Attorney in the District of Columbia, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
