"You will see that defendants Lay and Skilling knew key facts about the true condition of Enron, facts that the investing public did not know," prosecutor John Hueston told the 16-member panel.
Hueston said the defendants lied to support their own stock holdings and lied to investors. He added that the victims in this case, including the investing public and employees, did not know what Lay and Skilling knew.
"This is a simple case, it is not about accounting, it is about lies and choices," Hueston said.
The trial, which began Monday, is expected to last into the spring.
Duggar sisters unveil Christian dating rules in new book
LGBT community has 'bullied the American people': Bachmann