By Sheldon Rampton on October 04, 2002

Enron CEO Ken Lay and Global Crossing CEO Gary Winnick are both claiming that they knew nothing about the billion-dollar shortfalls, deceptive accounting and other problems at their companies. Experts say ignorance is a "potentially effective legal strategy," even though "you should expect chairmen to be aware of major factors affecting the business." After all, isn't that why they pay them the big bucks?