Washington (Sept. 30,. 2003) -- The Securities and Exchange Commission asked a federal judge on Monday to force former Enron chief executive Kenneth L. Lay to turn over documents the agency's seeking in its ongoing probe of the accounting scandal that led to one of the largest corporate bankruptcy filings in U.S. history.
The SEC argued that Lay was wrong in stating that turning over the documents would violate his rights to self-incrimination since they were not personal correspondence, but company records.
"The documents being withheld by Lay appear to be corporate records, which Lay may not withhold from production based on any personal rights he may have under the Fifth Amendment," the SEC said in a statement announcing its action.
-- WebCPA staff
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