Enron Timeline. Caldwell steps down

Transcription

1 Enron Timeline January, 2002 Thursday, Jan. 22, 2004 Thursday, February 19, 2004 Enron Task Force formed. Leslie Caldwell Director RICHARD CAUSEY indicted on 1 count of Conspiracy and 5 counts of Securities Fraud JEFFREY SKILLING added to CAUSEY indictment. Charged with Conspiracy to Commit Securities Fraud, 20 counts of Securities Fraud, 4 counts of Wire Fraud, and 10 counts of Insider Trading. (Max sentence 325 years) CAUSEY charged in Superseding Indictment with Conspiracy to Commit Securities Fraud, 20 counts of Securities Fraud, 8 counts of Wire Fraud, and 2 counts of Insider Trading (Max Sentence 265 years) Monday, March 1, 2004 Thursday, July 7, 2004 Andrew Weismann named new Director of ETF, Caldwell steps down KENNETH LAY added to CAUSEY and SKILLING indictment. Charged with 1 count of Conspiracy to Commit Securities Fraud, 4 counts of Securities Fraud, 2 counts of Wire Fraud, 1 count of Bank Fraud and 3 counts of Making False Statements to a Bank. (Max sentence 175 years) RICHARD CAUSEY charged in Superseding Indictment with 1 count of Money Laundering Conspiracy and 4 counts of Money Laundering in addition to the 31 counts of which he d already been charged Monday, July 18, 2005 Wednesday, Dec. 28, 2005 Sean Berkowitz named new (3d) Director of ETF replacing Weismann who stepped down. Kathy Ruemmler named as Deputy Director RICHARD CAUSEY pleads guilty to one count of Securities Fraud

2 Friday, Jan. 27, th Circuit Denies Defense s Petition for Writ of Mandamus on Change of Venue Issue finding that, the district court did not abuse its discretion. Govt moves to dismiss (and Court allows) 4 wire fraud charges against SKILLING (cts 3-6) Start of Trial: US vs Lay and Skilling Monday, Jan. 30, 2006 Jury Selected (Trial day #1) - 8 women and 4 men Alternates (2 men and 2 women) Tuesday, Jan. 31, 2006 Opening statements (Trial Day #2) For the Govt - John Hueston For Skilling - Daniel Petrocelli For Lay - Mike Ramsey Wednesday, Feb. 1, 2006 Thursday, Feb. 2, 2006 Govt s first witness - Mark Edward Koenig - head of Enron Investor Relations. Direct by Kathryn Ruemmler (Trial Day #3) Witness #1 Koenig - continuation of Direct exam by Kathryn Ruemmler.(Trial Day #4) End of Week One Monday, Feb. 6, 2006 Tuesday, Feb. 7, 2006 Wednesday, Feb. 8, 2006 Witness #1 Koenig - continuation of Direct exam by Kathryn Ruemmler. Direct concluded. Cross exam by Defense for Skilling begins. Govt states on record its next 4 witnesses: Ken Rice, Terry West, Stephen Schwarzback and Peter Melley. (Trial Day #5). Witness #1 Koenig - continuation of Cross exam by Defense for Skilling. (Trial Day #6). Witness #1 Koenig - continuation of Cross exam by Defense for Skilling. (Trial Day #7). 2

3 Thursday, Feb. 9, 2006 Witness #1 Koenig - Skilling Defense concludes Cross exam. Lay Defense begins its Cross Exam. (Trial Day #8). End of Week Two Monday, Feb. 13, 2006 Tuesday, Feb. 14, 2006 Wednesday, Feb. 15, 2006 Thursday, Feb. 16, 2006 Witness #1 Koenig - Lay Defense continues Cross Exam. Govt redirect. (Trial Day #9). Witness #1 Koenig - Re-Cross Exam by Skilling Defense. Witness #2 Ken Rice (former head of EBS). Direct Exam by Sean Berkowitz completed (Trial Day #10). Witness #2 Rice - Cross Exam by Holscher for Skilling. (Trial Day #11). Witness #2 Rice - Cross Exam Concluded by Holscher for Skilling. Cross Exam of Rice by Ship Lewis for Lay concluded. Redirect & re-cross of Rice concluded. Witness #3 Terry West (former Director of Corporate Planning - Direct Exam concluded by Cliff Stricklin. Cross Exam of West by Randy Oppenheimer for Skilling begun. (Trial Day #12). End of Week Three Monday, Feb. 20, 2006 Tuesday, Feb. 21, 2006 Wednesday, Feb. 22, 2006 Thursday, Feb. 23, 2006 Federal Holiday - No Trial Witness #3 West- Cross Exam concluded by Oppenheimer. Redirect of West completed by Cliff Stricklin. Witness #4 Paula Rieker - Direct Exam completed by John Hueston. Cross of Rieker by Bruce Collins for Lay begun. (Trial Day #13). Cross of Witness #4 Paula Rieker cont d by Bruce Collins for Lay. (Trial Day #14). Cross of Witness #4 Paula Rieker concluded by Bruce Collins for Lay. Cross of Rieker concluded 3

4 Daniel Petrocelli for Skilling. Redirect by John Hueston concluded. (Trial Day #15) End of Week Four Monday, Feb. 27, 2006 Direct Completed of Witness #5 Wes Colwell by Sean Berkowitz. Cross Examination of Colwell by Bruce Oppenheimer for Skilling concluded. Cross of Colwell by Chip Lewis for Lay concluded. Direct completed of Witness #6 - Wanda Curry by Kathy Ruemmler Cross of Curry by Ron Woods for Skilling begun. (Trial Day #16) Tuesday, Feb. 28, 2006 Cross of Witness #6 Wanda Curry by Woods for Skilling No cross by Lay defense. Redirect of Curry Direct exam completed of Witness #7 Timothy Belden by Berkowitz concluded. Cross suspended until following day. Direct exam of Witness #8 David Delainey concluded by Ruemmler. (Trial Day #17) Wednesday, Mar. 1, 2006 Cross exam of Witness #7 Timothy Belden by Randy Oppenheimer for Skilling. Redirect of Belden by Berkowitz concluded. Cross exam of Witness #8 David Delainey by Petrocelli for Skilling begun.(trial Day #18) Thursday, Mar. 2, 2006 Cross exam of Delainey by Petrocelli for Skilling concluded. Cross exam of Delainey by Ramsey for Lay concluded. Re-direct of Delainey Direct of Witness #9 John Sides by Robb Adkins. Cross exam of Sides by Max Seacrest for Lay. No cross by Skilling. Redirect by Adkins 4

5 Direct exam of Witness #10 Kevin Hannon by Stricklin begun.(trial Day #19) End of Week Five Monday, Mar. 6, 2006 Tuesday, Mar. 7, 2006 Direct exam of Witness #10 Kevin Hannon concluded by Stricklin. Cross exam of Hannon by Mark Holscher for Skilling Cross exam by Bruce Collins for Lay begun. (Trial Day #20) Cross exam of Hannon by Bruce Collins concluded. Redirect of Hannon by Stricklin Direct examination of Witness #11 Andrew Fastow by John Hueston begun. (Trial Day #21) Wednesday, Mar. 8, 2006 Direct exam of Fastow by Hueston concluded. Cross exam by Petrocelli for Skilling begun. (Trial Day #22) Thursday, Mar. 9, 2006 Cross exam of Fastow by Petrocelli for Skilling concluded. (Trial Day #23) End of Week Six Monday, Mar. 13, 2006 Tuesday, Mar. 14, 2006 Cross Exam of Fastow by Ramsey for Lay concluded Redirect of Fastow (Trial Day #24) Direct of Witness #12 Chris Loehr by Hueston concluded. Cross of Loehr by Petrocelli for Skilling concluded. No cross by Lay defense. Direct of Witness #13 Johnnie Nelson by Robb Adkins concluded. Cross of Nelson by Max Secrest for Lay concluded. No cross of Nelson by Skilling defense. Direct of Witness #14 Wincenty Kaminski by 5

6 Berkowitz concluded. (Trial Day #25) Wednesday, Mar. 15, 2006 Cross of Kaminski by Bruce Colllins for Lay concluded. Cross of Kaminski by Randy Oppenheimer for Skilling concluded. Redirect by Berkowitz concluded. Direct of Witness #15 Sherron Watkins by Hueston concluded. Cross of Watkins by Chip Lewis for Lay concluded. Cross of Watkins by Ron Woods for Skilling concluded. Redirect by Hueston concluded. (Trial Day #26) Thursday, Mar. 16, 2006 No Trial End of Week Seven Monday, Mar. 20, 2006 Direct of Witness #16 J.R. Sult by Hueston Cross by Shawn Cleveland of Sult for Lay Direct of Witness #17 Thomas Bauer by Berkowitz Cross of Bauer begun by Randy Oppenheimer (for Skilling). (Trial Day #27) Tuesday, Mar. 21, 2006 Cross of Bauer completed by Randy Oppenheimer (for Skilling). Cross of Bauer completed by Shawn Cleveland (for Lay). Direct of Witness #18 Ron Barone by Berkowitz Cross of Barone by Bruce Collins (for Lay) No cross by Skilling defense. Direct of Witness #19 Ben Glisan begun by Ruemmler. (Trial Day #28) Wednesday, Mar. 22, 2006 Thursday, Mar. 23, 2006 Direct of Glisan completed by Ruemmler. (Trial Day #29) Cross of Glisan by Petrocelli completed (for Skilling). Cross of Glisan by Bruce Collins (for Lay) begun. (Trial Day #30) 6

7 End of Week Eight Monday, Mar. 27, 2006 Cross of Glisan by Bruce Collins (for Lay) concluded. Redirect and recrosses Direct of Govt Witness #20 Glenn Ray by Leo Wise Cross of Ray by Ron Woods for Skilling No cross by Lay defense. Reading of portion of Stipulated to SEC Testimony by Skilling on 12/6/02. (Trial Day #31) Tuesday, Mar. 21, 2006 Direct examination of Govt Witness #21 FBI S.A. Robert Martin by Cliff Stricklin Cross examination of S.A. Martin by Mac Secrest for Lay Direct examination of Govt witness #22 Joanne Cortez by John Hueston Cross examination of Cortez by Bruce Collins for Lay GOVT RESTS Govt moves (and Court allows) to dismiss Cts 15, 21, 33 against Skilling; and Ct 30 against Lay. Court denies all defense motions for acquittal. Trial Recessed until Monday, April 3. (Trial Day #32) (Govt Case Day #30) End of Week Nine Monday, April 3, 2006 Direct of Defense Witness #1 Joannie Williamson by Chip Lewis Cross by Ruemmler Direct of Defense Witness #2 Scott Stoness by Randy Oppenheimer Cross by Ruemmler Direct of Defense Witness #3 Diann Huddleson by Randy Oppenheimer Cross by Ruemmler 7

8 Direct of Defense Witness #4 Rogers Herndon by Randy Oppenheimer Cross by Berkowitz Direct of Defense Witness #5 Sarah Davis begun by Chip Lewis. (Trial Day #33) (Defense Case Day #1) Tuesday, April 4, 2006 Direct of Davis completed by Chip Lewis. Direct of Davis completed by Mark Holscher. Cross of Davis by Stricklin Direct of Defense Witness #6 Wade Cline by Bruce Collins Cross of Cline by Ruemmler Direct of Defense Witness #7 Marla Barnard by Mark Holscher Cross of Barnard by Berkowitz Direct of Defense Witness #8 John Mark Metts by Bruce Collins Direct of Metts by Holscher Cross of Metts by Berkowitz (Trial Day #34) (Defense Case Day #2) Wednesday, April 5, 2006 Direct of Defense Witness #9 Max Hendrick, Esq. by Bruce Collins Cross of Hendrick by Hueston Direct of Defense Witness #10 Jim Derrick, Esq. by Mark Holscher begun. (Trial Day #35) (Defense Case Day #3) Thursday, April 6, 2006 Direct of Derrick by Mark Holscher Direct of Derrick by Secrest Cross of Derrick by Hueston begun. (Trial Day #36) (Defense Case Day #4) End of Week Ten (End Week One of Defense Case) Monday, April 10, 2006 Cross of Derrick by Hueston 8

9 Direct of Defendant Jeff Skilling by Petrocelli begun. (Trial Day #37) (Defense Case Day #5) Tuesday, April 11, 2006 Wednesday, April 12, 2006 Thursday, April 13, 2006 Direct of Skilling by Petrocelli continued. (Trial Day #38) (Defense Case Day #6) Direct of Skilling by Petrocelli continued. (Trial Day #39) (Defense Case Day #7) Direct of Skilling by Petrocelli concluded. (Trial Day #40) (Defense Case Day #8) End of Week Eleven (End Week Two of Defense Case) Monday, April 17, 2006 Tuesday, April 18, 2006 Wednesday, April 19, 2006 Thursday, April 20, 2006 Cross of Skilling by Berkowitz begun. (Trial Day #41) (Defense Case Day #9) Cross of Skilling by Berkowitz continued. (Trial Day #42) (Defense Case Day #10) Cross of Skilling by Berkowitz concluded. Re-direct of Skilling by Petrocelli begun. (Trial Day #43) (Defense Case Day #11) Re-direct of Skilling by Petrocelli concluded. Recross of Skilling by Berkowitz concluded. Direct of Defense Witness #11 Carol Whalen Baxter by Ron Woods Cross of Carol Baxter by Ruemmler Direct of Defense Witness #12 William Monteleone by Ron Woods Cross of Monteleone by Stricklin Direct of Defense Witness #13 Steven Williams by Ron Woods Cross of Williams by Stricklin Direct of Defense Witness #14 Sue Lowe (Skilling) by Randy Oppenheimer Cross of Lowe by 9

10 Ruemmler Direct of Defense Witness #15 Lynda Clemmons by Ron Woods Cross of Clemmons by Stricklin Direct of Defense Witness #16 Robert Clayton by Mark Holscher Cross of Clayton by Wise Direct of Defense Witness #17 Cynthia Olson by Bruce Collins Cross of Olson by Adkins Direct of Defense Witness #18 Rosalee Fleming by Chip Lewis Cross of Fleming by Ruemmler (Trial Day #44) (Defense Case Day #12) End of Week Twelve (End Week Three of Defense Case) Monday, April 24, 2006 Direct of Defense Witness #19 Joseph Romano by Ron Woods Cross of Romano by Stricklin Direct of Defendant Kenneth Lay by Mac Secrest begun. (Trial Day #45) (Defense Case Day #13) Tuesday, April 25, 2006 Wednesday, April 26, 2006 Thursday, April 27, 2006 Direct of Defendant Lay by Mac Secrest continued. (Trial Day #46) (Defense Case Day #14) Direct of Defendant Lay by Mac Secrest concluded. Cross of Lay by Hueston begun. (Trial Day #47) (Defense Case Day #15) Cross of Lay by Hueston continued. (Trial Day #48) (Defense Case Day #16) End of Week Thirteen (End Week Four of Defense Case) Monday, May 1, 2006 Cross of Lay by Hueston Redirect of Lay by Mac Secrest begun. 10

11 (Trial Day #49) (Defense Case Day #17) Tuesday, May 2, 2006 Redirect of Lay by Mac Secrest Recross of Lay by Hueston Direct of Defense Witness #20 Martin Siegel by Bruce Collins Cross of Siegel by Berkowitz Direct of Defense Witness #21 Mayor Robert Lanier by Chip Lewis Cross of Lanier by Adkins Direct of Defense Witness #22 Retired Admiral George Kinnear, Jr. By Chip Lewis Cross of Kinnear by Adkins Direct of Defense Witness #23 Drayton MacLane, Jr. By Chip Lewis Cross of MacLane by Stricklin Direct of Defense Witness #24 Rev. William Lawson by Chip Lewis Cross of Rev. Lawson by Stricklin Direct of Defense Witness #25 Jerry Arnold, PhD. by Shawn Cleveland Cross of Arnold by Stolper begun. (Trial Day #50) (Defense Case Day #18) Wednesday, May 3, 2006 Cross of Arnold by Stolper Direct of Defense Witness #26 Walter Rush by Randy Oppenheimer Cross of Rush by Berkowitz begun. (Trial Day #51) (Defense Case Day #19) Thursday, May 4, 2006 Cross of Rush by Berkowitz Direct of Defense Witness #27 Christopher Barry by Bruce Collins Cross of Barry by Adkins (Trial Day #52) (Defense Case Day #20) End of Week Fourteen (End Week Five of Defense Case) 11

12 Monday, May 8, 2006 Direct of Defense Witness #28 Margaret Nadasky by Mark Holscher Cross of Nadasky by Stricklin Direct of Defense Witness #29 Reverend Edward Young by Chip Lewis Cross of Rev. Young by Stricklin (Defense Case Day #21) DEFENSE RESTS ITS CASE. Government Rebuttal Witness #1 Michael Muckleroy by John Hueston Cross of Muckleroy by Secrest. Government Rebuttal Witness #2 Charles Davidow, Esq by John Hueston Cross of Davidow by Bruce Collins Government Rebuttal Witness #3 Patti Klein by Robb Adkins Cross of Klein by Mac Secrest GOVERNMENT RESTS REBUTTAL CASE. Trial testimony and evidence concluded Court Adjourned until closings on Monday, May 15, (Trial Day #53) (Govt Case Day #31) End of Week Fifteen (End Week Six of Defense Case) Monday, May 15, 2006 Judge Lake issues jury instructions to jury. Government s closing by Kathy Ruemmler. (Trial Day #54) Tuesday, May 16, 2006 Closings by Daniel Petrocelli for Skilling; and Bruce Collins, Mac Secrest, Chip Lewis and Mike Ramsey for Lay. (Trial Day #55) Wednesday, May 17, 2006 Government s rebuttal argument by Sean Berkowitz. 12

13 Jury retires to begin deliberations at 10:45AM until 4:00pm. (Approximately 4 hrs of deliberation) (Trial Day #56) Thursday, May 18, 2006 Jury deliberations continue, Day #2, beginning at 8:00 am and ending at 4:00 pm. (Approximately 7 hrs of deliberation, Running Total: 11 hrs) (Trial Day #57) Lay Bench Trial begins. Opening Statement by Robb Adkins for Government. Defense defers Opening statement to start of their case. Direct of Govt Witness #1 James Shelton by John Hueston Cross of Shelton by Ken Carroll Direct of Govt Witness #2 Robert Hanisee by Robb Adkins Cross of Hanisee by Mac Secrest Direct of Govt Witness #3 Sally Keepers-Ballard by John Hueston Cross of Ballard by Mac Secrest (Bench Trial Day #1) End of Week Sixteen Monday, May 22, 2006 Jury deliberations continue Day #3 beginning at 8:00 am and ending at 4:20 pm.(approximately 7.5 hrs of deliberation, Running Total: 18.5 hrs) (Trial Day #58) Lay Bench Trial: Direct of Govt Witness #4 Sherrie Gibson by Andrew Stolper Cross of Gibson by Sharon Shumway Direct of Govt Witness #5 FBI S.A. Robert Cunnane completed by Robb Adkins. Cross of Cunnane by Shumway Govt Rests Court denies three out of four Rule 29 Motionsreserves judgement on fourth. 13

14 Defense Opening by Mac Secrest. Direct of Defense Witness #1 Rosalee Fleming by Wendy Gerwick Couture Cross of Fleming by Andrew Stopler Direct of Defendant Lay by Ken Carroll begun. (Bench Trial Day #2) Tuesday, May 23, 2006 Jury deliberations continue Day #4 beginning at 8:00 am and ending at 3:30 pm - worked through lunch.(approximately 7 hrs of deliberation, Running Total: 25.5 hrs) (Trial Day #59) Lay Bench Trial: Direct of Ken Lay Cross of Lay by Hueston Defense Rests Direct of Government Rebuttal Witness #1 Caroline Mitchell by Sean Berkowitz Cross of Mitchell by Sharon Shumway Direct of Government Rebuttal Witness #2 FBI S.A. Kendall Hopper by Andrew Stopler Cross of S.A. Hopper by Ken Carroll Government closing by Robb Adkins. Defense closing by Mac Secrest. Government rebuttal by Sean Berkowitz. (Bench Trial Day #3) Wednesday, May 24, 2006 Thursday, May 25, 2006 Jury deliberations continue Day #5 beginning at 8:00 am and ending at 4:00 pm.(approximately 7 hrs of deliberation, Running Total: 32 hrs) (Trial Day #60) Jury Deliberations continue on Day #6 beginning at 8:00 AM until 10:00AM. (Approximately 2 hrs of deliberation, Running Total: 34 hrs) Verdict announced at 11:00AM. Lay guilty on all 6 counts: (1 ct Conspiracy, 2 cts Wire Fraud, 3 cts Securities Fraud) 14

15 Skilling guilty on 19 of 28 counts: (1 ct Conspiracy, 12 cts Securities Fraud, 5 cts of False Statements to Auditors, 1 ct Insider Trading) Acquitted on 9 cts: (9cts of Insider Trading) (Trial Day #61) Lay Bench Trial: Judge Lake announces verdict immediately following the reading of the jury verdicts and polling of jurors. Lay guilty on all 4 counts: (1 ct Bank Fraud and 3 counts False Statements to Banks) End of Week Seventeen 15