Although the Houston Chronicle has several Enron blogs running, Channel 13 has Joel Androphy, of Berg & Androphy, also writing commentary. Yesterday, when I was wondering why Skilling didn't pick a Texas defense attorney, I had those guys in mind.
Androphy chooses as the prosecution's primary mistake in dealing with Mark Koenig the fact that the prosecutors did not fine Koenig the maximum. Instead, they let him keep $5 million after paying $1 million in fines. Instead of taking the maximum for restitution to investors, Koenig got to keep $5 million to defend himself in civil lawsuits and provide for his family. (As we've heard, he has two kids in college and one in high school.) The defense gets to keep reminding the jury that Koenig still has $5 million and may be lying now to keep it. Now, we may think that he will eventually have to pay that amount out to cover civil judgments, but for now he gets to live off the unfrozen interest, keep his house in Kingwood and send his kids to school.
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8345157d569e200d834a022d053ef
Links to weblogs that reference Another Enron Blog:
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 |
