Judge delays sentencing for Enron pair

HOUSTON - A federal judge has delayed sentencing for former Enron Chief Executives Ken Lay and Jeffrey Skilling, who were convicted last month of fraud and conspiracy in the company's collapse.

In court documents filed late Friday, US District Judge Sim Lake agreed to a motion by the defence teams to delay sentencing for the former Enron chiefs to October 23 from September 11.

Lay, 64, and Skilling, 52, were found guilty at trial of hiding the financial problems at Enron, once the nation's seventh-largest company, which collapsed into bankruptcy in December 2001.

Lay, 64, was convicted of six counts of conspiracy and fraud and faces a maximum of 45 years in prison. Four other charges of bank fraud carry a maximum of 120 years in prison, but Lay is unlikely to be sentenced to more than six months for those counts because no financial damages occurred.

Skilling, 52, was found guilty of 19 counts of conspiracy, fraud, insider trading and making false statements, which combined, carry a maximum sentence of 185 years. He was not convicted of nine counts of insider trading.

Judge Lake is considering a motion by Skilling's lawyers to allow him access to $60 million in assets that were frozen by the government.

- REUTERS