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ENRON EXPERTS

The following is from the March 15, 2006, edition of The Dallas Morning News.

Analysts see U.S. edge in Enron trial

Fastow testimony puts prosecutors in strong position, they say

By BRUCE NICHOLS
The Dallas Morning News

HOUSTON – Andrew Fastow's testimony put prosecutors in a strong position at a key milestone in the trial of Enron Corp. founder Kenneth Lay and former chief executive Jeffrey Skilling, analysts said Tuesday.

And the star witness did so, despite a grilling by defense attorneys, they added.

"He did what the government wanted him to do, which was to show that Skilling and Lay knew about the problems Enron was having and that they lied, which is basically the government's case," said Southern Methodist University law professor Linda Eads. "He never wavered in terms of his essential story."

Enron's former chief financial officer finished four days of testimony Monday in the conspiracy and fraud trial of Mr. Lay and Mr. Skilling.

Both men have pleaded not guilty in the December 2001 collapse of Enron. The defendants have yet to present their case. They contend that the only wrongdoing at Enron was done by Mr. Fastow and a group around him.

Mr. Fastow said that the two men knew and approved of his manipulations of Enron's finances to defraud investors, though he admitted he stole from the company behind their backs.

Seven weeks in, the trial seems to be picking up speed, and some analysts now say it may not take the full four months predicted.

Read the rest of The Dallas Morning News story . . .