More on the Enron Broadband trial closing arguments

EBS21.jpgFollowing on this post from earlier this week on the closing arguments in the Enron Broadband trial, a Clear Thinkers reader offered the comments below on the closing arguments, a transcript of which is downloadable here (the pdf file is bookmarked in Adobe Acrobat for each morning and afternoon session of the arguments).
Inasmuch as the author of the following comment actually attended the closing arguments (I did not), the author’s account is different — and likely far more accurate — than mine:

The trial may have been a snoozer, but the closing arguments were not — everything but [Prosecutor Ben] Campbell’s arguments, that is.
From watching the jury, about three of the fourteen were even looking at Campbell during his three hour argument, which included such “zinger” lines as: “I’m from Iowa, and I didn’t just fall of the turnip truck, and neither did you,” and “As Jerry Maguire said, ‘Show me the money!'” That’s right, he referenced Jerry Maguire.
Defense attorneys had a better time holding the jury’s attention, Dave Angeli through power-points and videos, and Tony Canales through colorful analogy and talking directly to the jury. At the end of both attorneys’ arguments, the jury was intent and leaning forward. After Mr. Canales’s, half the jurors — and all of the defendants’ families and friends — were in tears. At some point Canales retorted, “Show me the money? How about show me the evidence!” He also showed the indictment to the jury (though the government filed a motion to keep it away from the jury) which, if you read it, is all about the Shelby BOS video, which was never shown. He then said, in reference to the supposedly damning Collins lipstick email, “you can put all the lipstick you want on this indictment, it isn’t going away.” If at this point the jury just wants relief from the drudgery of the trial, they got their wish from the defense.

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Noose tightening for Bonds?

bbonds.jpgVictor Conte, the founder of Bay Area Laboratory Co-Operative, which is at the center of a steroid scandal involving Major Leage Baseball star Barry Bonds and other top athletes, has agreed to plead guilty today to steroid distribution and money laundering under a plea bargain with federal prosecutors. Here is a previous post on the legal problems that Mr. Bonds is facing in connection with that investigation.
Mr. Conte is one of four men — including Mr. Bonds weight trainer, Greg Anderson — who were charged last year with dozens of counts in connection with providing distributing illegal drugs to more than 30 professional baseball, football and track and field athletes. Some of the biggest names in professional sports — including Mr. Bonds, New York Yankees slugger Jason Giambi and track star Marion Jones — have been under suspicion based on Balco grand-jury transcripts that were leaked to the San Francisco Chronicle.

Is Emily heading for Brownsville?

Emily.gifIt’s looking increasingly as if Hurricane Emily — currently a powerful category 4 hurricane — is headed toward Brownsville and the Texas Rio Grande Valley, probably by Tuesday of next week. Current projections have Emily weakening while it goes over the Yucatan Peninsula this weekend, but strengthening to a category 3 storm once it travels back over the warm Gulf waters.
After having virtually no rainfall for a 45 day period prior to July 1, the Houston area has received as much as 10 inches of rainfall over the past two weeks.

Hank fights back

Greenberg10.jpgWith the criminal investigation of American Insurance Group, Inc. and Berkshire Hathaway unit General Re heating up earlier this week, former AIG chairman and CEO Maurice “Hank” Greenberg made his first detailed public comments regarding the propaganda campaign that New York AG Eliot Spitzer has orchestrated against him.
Mr. Greenberg told a group of current and former AIG executives that at least one of the accounting “errors” that AIG has acknowledged subsequent to his leaving the company — the failure of AIG to expense executive compensation provided by a Greenberg-controlled company — had been thoroughly reviewed and approved by AIG’s lawyers and accountants before AIG ever approved the arrangement.

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Another Enron plea bargain

enron_logo4.jpgOn the day that the jury in the Enron Broadband trial began deliberations, the Enron Task Force announced that Christopher Calger, a former executive with Enron North America, had pleaded guilty to a criminal conspiracy count and agreed to cooperate with Task Force prosecutors in their investigation of a transaction that is expected to be part of the Task Force’s upcoming “legacy” criminal trial against former Enron top executives, Kenneth Lay, Jeffrey Skilling, and Richard Causey. The Department of Justice press release on the indictment is here.
The plea bargain involved a convoluted 2000 transaction known as Coyote Springs II in which the company sold some energy assets — including a turbine and an equity interest in a power plant — to another company called Avista Corp. That transaction is part of the wide-ranging indictment against Messrs. Skilling and Causey in which the Task Force alleges that Mr. Causey knew about the hidden role in the deal of LJM2, which is one of the seperate partnership entities that Andrew Fastow managed while serving as CFO of Enron. Although Mr. Causey’s name is not used in the plea deal, Mr. Calger admits that Mr. Causey had approved part of the LJM2 financial arrangement.

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