HOUSTON — A judge rejected former Enron Corp. Chief Executive Jeffrey K. Skilling's request to dismiss insider trading charges pending against him in a court opinion made public Thursday.
U.S. District Judge Sim Lake, in a 26-page opinion, denied Skilling's request to dismiss 10 counts of insider trading.
On Wednesday, the judge accepted a guilty plea to securities fraud from former top Enron accountant Richard A. Causey, who was to have gone on trial with Skilling and Enron founder Kenneth L. Lay next month.
Skilling faces 35 counts of fraud, conspiracy, insider trading and lying to auditors for allegedly knowing about or participating in schemes to manipulate Enron's finances so investors would believe a wobbly company was healthy.
Lay, the company's former chairman, faces seven counts of conspiracy and fraud for allegedly perpetuating the ruse after Skilling abruptly resigned in August 2001, months before Enron filed for bankruptcy in December that year.