Thursday, July 21, 2005
AP reports here that three former executives employed by Enron heard "not guilty" to some of the counts against them. The jury failed to reach a verdict on other counts against these three individuals, as well as on counts against two others who were on trial. The bottom line is that despite a lengthy trial, no one was found guilty in this Enron broadband case. (see also NYTimes here)
Interestingly, the judge only had the jury deliberate for four days. We have seen longer deliberations in other white collar cases (e.g. Scrushy Trial). Although, prosecutors may be perturbed with the short deliberation period, second trials in white collar cases have not always favored the defense. Additionally, second trials for those accused of white collar crimes are not necessarily wins. The attorney fee bills and toll on the accused and family can be high costs to pay for a hung jury. Hopefully, a hung jury will allow the prosecution and defense to reconsider their cases, with either dismissals on the part of the government and/or pleas on the part of the defense, resolving any remaining pending matters.