Ex-Enron CEO Skilling Pleads Not Guilty
By KRISTEN HAYS, AP Business Writer
HOUSTON - Former Enron Corp. chief executive Jeffrey Skilling was named in a 42-count indictment unsealed Thursday that accused him of participating in widespread schemes to mislead government regulators and investors about the company's earnings.
Skilling, the highest-ranking executive arrested in the scandal that shook Wall Street and Washington alike, pleaded innocent to three dozen criminal charges related to the company's collapse.
"I plead not guilty to all counts," Skilling told U.S. Magistrate Judge Frances Stacy, who set bond for him at $5 million.
One of three attorneys accompanying him before the judge told her he was prepared to post the bond in cash.
Prosecutors said Skilling faced a maximum total of 325 years in prison and over $80 million in fines if convicted of all the counts. Another court appearance for Skilling was set for March 11.
Skilling had surrendered to the FBI earlier Thursday.