X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Prosecutors described Enron Corp. founder Kenneth Lay as a sophisticated hands-on investor who wanted to pry loans from banks so he could buy stock even though he knew federal rules prohibited him from using the money for that purpose.

But Lay’s lawyer, in closing arguments Tuesday at Lay’s bank fraud trial, insisted he had no intention to defraud or mislead bankers eager to get his business and wasn’t aware of the regulations because he was more focused on the big picture of running Enron and not closely managing his own personal finances.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.