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Mr. Skilling and Mr. Lay, Enron's former top executives, lied to the public about Enron's true financial condition in the days leading up to its stunning collapse in late 2001.
In the early days of a trial, after the defendants testified, jurors were left with an impression of their command of Enron's complex businesses and of their enthusiastic cheerleading about the company's future prospects.
Under the legal concept of "willful blindness," hence - deciding to close ones eyes to what was occurring inside and not take any corrective action, the defendants could be convicted without a smoking-gun meeting or other eyewitness to a crime being discussed.
Yet, in a surprising turn of events, Mr. Koenig's recent trial testimony may have served to advance the defense's argument. Mr. Koenig held a key position in the company as head of investor relations and was present at many of the crucial discussions.
Outside legal analysts argued that Mr. Koenig long questioning on the stand has allowed the defense lawyers to showcase Enron's former top executives favorably to the jurors.
But other outside lawyers argued that the prosecution used Mr. Koenig well and that the lengthy cross-examination by the defense might have backfired by testing the patience of Judge Lake, who grew particularly irritated with Mr. Ramsey. The judge repeatedly tried to stop both Mr. Petrocelli and Mr. Ramsey from arguing aspects of the case and pushing their cross-examination to the edge.
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