May 25 (Bloomberg) -- A U.S. jury convicted Kenneth Lay and Jeffrey Skilling of orchestrating the fraud that destroyed Enron Corp., giving prosecutors a victory a case that came to symbolize corporate crime sparked by the stock market bust in 2000.
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Lay, 64, and Skilling, 52, face at least 25 years each in prison after being convicted of using off-the-books partnerships to manipulate Enron's finances. Skilling faces additional jail time over his conviction for using inside information to sell Enron stock. Lay was also convicted on bank fraud charges after a trial that U.S. District Judge Sim Lake held without a jury while the panel in the main case deliberated.
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The eight-woman, four-man jury convicted Skilling on 19 of the 28 charges against him while finding Lay guilty of all of the six counts against him. The government presented a total of 25 witnesses against the men, including a parade of former Enron executives.
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Sentencing will be announced on September 11, 2006.
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