Jurors will today begin to hear evidence in the trial of former Enron Corp chiefs Kenneth Lay and Jeffrey Skilling.
Prosecutors and defence attorneys today begin perhaps the premier fraud case to emerge from the recent era of corporate scandals that started with Enron's spectacular crash more than four years ago.
In six hours of opening statements - two for the government, four for the defence - attorneys will introduce jurors to the wide-ranging allegations against Enron's former top two executives.
The government contends that Mr Lay and Mr Skilling lied about Enron's health when they knew the company's successful image was propped up by complicated yet fragile financial structures that eventually helped fuel its collapse.
The defendants contend that Enron's success was genuine and that they committed no crimes.
Eight women and four men were selected as jurors, with two women and two men as alternates after US District Judge Sim Lake spent yesterday individually questioning about 100 potential jurors at the bench.
Opening statements were expected to last through today, followed by testimony tomorrow. The government's first witness was expected to be Mark Koenig, former head of investor relations for Enron, and one of 16 ex-Enron executives to cut plea deals with prosecutors.
Thousands of Enron employees lost jobs and investors lost billions when Enron crashed in December 2001, but the judge made clear yesterday that the jury box was not the place to avenge those who lost jobs or investments.
Mr Skilling faces 31 counts of fraud, conspiracy, insider trading and deceiving auditors for allegedly lying about Enron's financial strength. Mr Lay faces seven counts of fraud and conspiracy for perpetuating the alleged scheme after Mr Skilling resigned in August 2001.
Both have pleaded not guilty.
PA