BUSINESS: Ken Lay Pleads Not Guilty, page 1

Lay has said, in court, that he is innocent of the charges brought against him. There are 11 counts against him, revealed after the indictment was unsealed this morning. He surrendered to the FBI only a few hours before the hearing.

www.msnbc.msn.com
�Not guilty, your honor,� Lay, speaking loudly and clearly, told U.S. Magistrate Judge Mary Milloy at a court hearing hours after he surrendered to the FBI and was hustled to the federal courthouse in handcuffs.

A federal indictment unsealed Thursday added 11 counts against Lay to charges already filed against his hand-picked protege, former CEO Jeffrey Skilling, and former top accountant Richard Causey.

It accused Lay of participating in a conspiracy to manipulate Enron�s quarterly financial results. It also accused him of making public statements about Enron�s financial performance that were false and misleading and omitting facts necessary to make financial statements accurate and fair.

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Personally, I hope he rots in prison. I doubt he will, but I hope he does. He'll probably plea-bargain, and end up in jail for three years, while all the people he screwed are on welfare, or working at horrible jobs, barely making it from paycheck to paycheck.

[edit on 8-7-2004 by John bull 1]