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 HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling was among American shareholders who sold stock at their first opportunity days after the Sept. 11, 2001 terrorist attacks.
But prosecutors in his fraud and conspiracy trial allege he sold 500,000 Enron shares on Sept. 17 that year because he had inside information that the energy company was in serious trouble — not because he was a panicked shareholder in a roiled market.
On Monday, testimony turned to that specific trade, which raked in $15.5 million and is among 10 improper insider trades Skilling is alleged to have made. Skilling is on trial for charges including fraud and conspiracy alongside company founder Kenneth Lay, but only Skilling faces charges of improper stock sales.
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