Enron Defendant Rick Causey Takes Plea Deal

Bump and Update: Causey made his deal. It's tougher times ahead for Ken Lay and Jeff Skilling, who will move for another continuance. The jury summonses have already gone out and 400 questionnaires have been returned. I think there's a good chance Judge Sim Lake will deny a continuance and either say Lay and Skilling should have expected this or that three weeks is enough for them to prepare.

Original Post: 12/25

Ken Lay, Jeff Skilling and Rick Causey are set for trial in the Enron case on January 17. Word is that Rick Causey is in plea negotiations and may cooperate against Lay and Skilling.

Either the report is not true, or Lay and Skilling's lawyers are in serious denial:

"I've talked to Rick Causey myself, and I don't believe he willfully did anything wrong," said Mike Ramsey, lead attorney for Lay. "I don't believe he would agree to plead guilty to a crime when he didn't commit one."

Skilling attorney Daniel Petrocelli also cast doubt on a Causey plea. "Over the past year, I've spent a lot of time with Rick Causey. He is an honest man and consummate professional, who worked his heart out for Enron," Petrocelli said. "He never — let me repeat — never committed any fraud or criminal conduct of any kind. He knows it, and the government knows it."

Causey is the link between Andrew Fastow, who took a reduced ten year hit with cooperation to resolve his own and his wife's charges.

Causey, along with Skilling and another officer, were assigned by Enron's board of directors to sign off on Enron's transactions with partnerships run personally by Fastow that were at the heart of the company's downfall.

According to prosecutors, Causey and Fastow hand-wrote a document known as the "global galactic" agreement that essentially ensured the Fastow partnerships would not lose money in their Enron deals. Such agreements would have made the accounting for the deals improper.

Causey reportedly is low on funds. He now has his brother-in-law representing him in his related civil cases.

If the Government sweetens the pot enough, he'll plead.

For anyone interested in Ken Lay's side of the story, he's still talking and giving speeches and outlines his defense here on his website.

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  • Re: Enron Defendant Rick Causey Takes Plea Deal (none / 0) (#1)
    by Che's Lounge on Tue Dec 27, 2005 at 10:12:14 PM EST
    Sure, give them a continuance. Because soon thereafter it's off to the federal pound-me-in-the-a** prison.

    Re: Enron Defendant Rick Causey Takes Plea Deal (none / 0) (#2)
    by Dadler on Tue Dec 27, 2005 at 11:15:10 PM EST
    Let's hope this deal was struck under the weight of genuine evidence. I'd hate to have Lay and Skilling get better treatment because of the perception that that Causey is saving his hide first and telling the truth second. Tho I'm sure Lay and Skilling's counsel will do everything they can. It will certainly be interesting to watch. Especially since my state was raped by this company and its practices.

    Re: Enron Defendant Rick Causey Takes Plea Deal (none / 0) (#3)
    by kdog on Wed Dec 28, 2005 at 01:23:38 PM EST
    "I don't believe he would agree to plead guilty to a crime when he didn't commit one."
    These thieving clowns live in the same fantasy world as Bush, where laws do not apply to those over a certain net worth.