Shortly after getting the case, the jury in the criminal trial of former Dynegy and El Paso natural gas traders Michelle Valencia and Greg Singleton (previous posts here) sent U.S. District Judge Nancy Atlas a series of questions that — according to this Kristan Hays/AP article — prompted the judge to observe “they just don’t understand the [the prosecution’s] theories” and may be hung already.
Yesterday, I noted the defense’s gamble in electing not to put on a case after the prosecution rested based on the bet that the defense could persuade the jury during closing argument that the prosecution had not met its burden of proving that the defendants committed a crime beyond a reasonable doubt. That bet is usually a bad one, but it’s sure looking better in this particular case.
Update: The Chornicle’s John Roper reports that the jury has reached a verdict on wire fraud charges, but has advised Judge Atlas that the jurors are deadlocked on the conspiracy and false reporting charges. Until Judge Atlas decides whether to declare a mistrial or direct the jury to continue deliberating, the nature of the verdict on the wire fraud charges will remain confidential.
Update II: The jury is back and has found Valencia guilty of seven counts of wire fraud and Singleton guilty on a single count of wire fraud. The jury either acquitted or deadlocked on all the other charges against the defendants.