The Enron Trial and Kenneth Lay and Jeffrey Skilling
fined $45 million and sentenced to 24 years of prison in 2006 (Moncarz, Moncarz, Cabello, & Moncarz, 2006). Main Laws Violated in the Enron Scandal Civil charges were initiated by The Securities and Exchange Commission (SEC) against the former Enron CEO Kenneth L. Lay and Jeff Skilling for orchestrating a wide-ranging scheme to defraud through misleading public representation and falsified financial results. The commission identified violation of federal securities laws including the Securities Exchange Act of 1934 - Section 10(b), the Securities Act of 1933 - Section 17(a); and the Exchange Act - Sections 13(a), and 13(b)(2)(A) and (B). The Securities Exchange Act (1933) governs companies issuance of securities while the Securities Exchange… Continue Reading...