Jeffrey K. Skilling
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Skilling Mr. Skilling Jeffrey K. Skilling
Kenneth D. Rice, who headed Enron's broadband unit, testified Thursday that former chief executive Jeffrey K. Skilling directed him to paint a positive outlook for the company's board, even as Mr. Skilling knew the broadband division was struggling to survive. Mr. Skilling faces 31 counts of fraud, conspiracy and insider trading, while Mr. Lay faces seven counts of fraud and conspiracy related to the months after he replaced Mr. Skilling as chief executive. Both men sold millions of dollars in stock before the company crumbled, but only Mr. Skilling is charged with improper stock sales. Kenneth D. Rice, who headed Enron's broadband unit, testified Thursday that former chief executive Jeffrey K. Skilling directed him to paint a positive outlook for the company's board, even as Mr. Skilling knew the broadband division was struggling to survive. But Mr. Rice, testifying for a third day in the trial of Mr. Skilling and Enron's founder, Kenneth L. Lay, acknowledged under cross-examination that he had no documents or witnesses to support his claim that Mr. Skilling told him to change his presentation. And Mr. Rice later conceded that a document he believes was the less-optimistic draft presentation that Mr. Skilling rejected might have been compiled for another purpose.
