According to the Los Angeles Times, "three people familiar with the investigation," said that Dr. Conrad Murray admitted to police that he did indeed administer Propofol to Jackson on the day he died. Murray apparently legally purchased the propofol from a Las Vegas store. Dr. Murray is a cardiologist and doctor of internal medicine. He apparently administered medication to Jackson in order to help him sleep. (Jackson's chronic pain was such that he allegedly could not sleep well without being sedated.) It is certainly possible that Jackson was not truthful with his doctor as to all the other drugs that Jackson may have been taking. It is also possible that Jackson's doctor simply made a mistake that was negligent. But negligence does not necessarily mean that a crime was committed.
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Update 11-9-11: The jury convicted Dr. Conrad Murray of involuntary manslaughter. Murray will likely lose his medical license, and faces up to four years in prison.
Update 11-29-11: Dr. Conrad Murray sentenced to four years in jail. However, due to overcrowding in California, he will likely only spend two years in jail.