1.
U.S. markets recover from steep losses
HOUSTON, Aug. 7 (UPI) -- Federal prosecutors are fighting to preserve the integrity of the Enron prosecutions to prove they had the right approach, court and Wall Street observers said.
Post-trial maneuvering has not been smooth with the overturning of the conviction of the Arthur Andersen accounting firm, the acquittal of a former broadband services executive and the 5th U.S. Circuit Court of Appeals decision to order new trials for four others, McClatchy Newspapers reported Thursday.
Former chairman Kenneth Lay was convicted, but died before sentencing and convicted Chief Executive Officer Jeffrey Skilling is in jail, waiting for word on his appeal.
In 2006 the appellate court struck down the pivotal "honest services" theory, which enabled prosecutors to pursue suspects who abetted, but did not profit from the alleged fraud.
If Skilling's convictions stand, "the Enron prosecutions were a success," said former Securities and Exchange Commission attorney Peter Henning.
"If it doesn't, prosecutors will have a hard time convincing the public that they took the right approach," he said.
|
|
|
|
|
|
| Additional Business News Stories | |
BEIJING, May 24 (UPI) --
China National Offshore Oil Corp. announced Thursday it made a new oil discovery in the shallow waters of south Liaodong Bay.
|
NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
