Enron’s Lay, Skilling convicted

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Enron's Lay, Skilling convicted

Former Enron chiefs Ken Lay and Jeffrey Skilling were convicted on Thursday for lying to investors as the energy giant stumbled toward bankruptcy in 2001 in a stunning collapse that shook the country’s faith in corporate America.

The jury verdict after a bitter four-month trial capped a years-long government effort to punish the men responsible for one of the greatest corporate scandals in U.S. history that cost investors billions of dollars, wiped out thousands of jobs and sent shock waves through Wall Street and Washington.

Read the complete story here. (Reuters)