Question
Enron founder and former Chairman and CEO Kenneth Lay was indicted in July 2004 for his role in the Enron scandals. The SEC's complaint against
Enron founder and former Chairman and CEO Kenneth Lay was indicted in July 2004 for his role in the Enron scandals. The SEC's complaint against Lay, ironically, seemed to corroborate Lay's protests that he had nothing to do with the manipulation of Enron's books. The complaint, however, did heavily accuse Lay, in concert with Jeff Skilling and Richard Causey, of disclosure fraud. Review the SEC's complaint at www.sec.gov/litigation/complaints/comp18776.pdf, beginning with paragraph 59 and concluding with paragraph 95. Required: (1) The SEC complaint accuses the defendants of disseminating false and misleading statements through which seven forums? See paragraph 59. (2) How many separate incidents does the SEC complaint identify with Causey, Skilling, and Lay making false and misleading statements? See paragraphs 60 through 94. (3) How many false or misleading reports does the SEC accuse the defendants of causing to be filed with the SEC? See paragraph 95. (4) What is your reaction to the Enron scandal?
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