James Fayed Convicted of First Degree Murder

Today, the penalty phase of the trial begins in the murder-for-hire case of James Fayed, 48. Yesterday, a jury of eight men and four women convicted Fayed of first degree murder as well as conspiracy to commit murder in the stabbing death of his wife Pamela Fayed in a Century City parking garage on July 28th, 2008. The jury also found true the special circumstances of lying in wait and financial gain. James and Pamela Fayed were in the midst of a bitter divorce and their company, Goldfinger Coin & Bullion was under federal investigation. Prosecutors argued that James Fayed plotted the murder to avoid splitting the Internet bullion trading company's millions in assets with his wife as well as prevent her from potentially testifying as a witness against him in the investigation. DDA Alan Jackson and DDA Eric Harmon who successfully prosecuted the case are seeking the death penalty.