SEC Accuses Enron’s Lay of Legal ‘Charade’
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Former Enron Corp. Chairman Kenneth L. Lay turned over to a bankruptcy examiner evidence that he is refusing to give the Securities and Exchange Commission in its probe of Enron’s collapse, the SEC told a federal judge.
In a court filing in Washington, the SEC asked U.S. District Judge Royce C. Lamberth to reject Lay’s assertion of his 5th Amendment right against self-incrimination and compel his delivery of the evidence. The SEC called Lay’s refusal to produce the evidence a legal “charade.”
Lay has argued that the disputed documents were “personal” and not corporate records, which generally can’t be withheld based on an individual’s claim of 5th Amendment protection.
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