When Enron's chief Ken Lay dropped dead of a heart attack many people had the initial reaction of feeling cheated. Here was the head of a company that had destroyed employee's retirement accounts, lost shareholders their money, and lied about everything they were doing throughout the whole process, and he seemed to have escaped proper judgement. Many were frustrated to not see him put behind bars for a long, long time.
Now some of the same people will be able to get what they were hoping for. Jeff Skilling, the former chief of Enron who was known for spinning the image of Enron's greatness, will spend 24 years behind bars.
Does that seem like enough? $60 billion worth of company vanished, thousands of employees with almost nothing to show for their life's work versus 24 years?
The sentences used to actually be less. Back in the Savings and Loans days sentences of 1 to 4 years were the norm, according to this article that looks at sentences of criminal CEO's then and now. But in the 2000s white collar crime comes with greater sentencing lengths. Timothy Rigas of Adelphia: 20 years, WordCom's Bernard Ebbers: 25 years, and Tyco's Mark Swartz: 8-25 years. At the very least people like Skilling no longer face a mere slap on the wrist.
That being said, CNN's related poll shows that people still think that sentencing for people like Tyco's chief are still not long enough.
Do you think Skilling's punishment is justice served, or that it was too lenient? Vote in our poll or jump into the discussion in the comments.











Reader Comments (Page 1 of 2)
10-23-2006 @ 5:06PM
JOHN SCARCE said...
HE SHOULD HAVE GOTTEN FIFTY YEARS WITH NO PAROLE.....
10-23-2006 @ 5:06PM
eileen said...
no it's not enough, that man has ruined more lives then any drug dealing junkie with a life sentence
10-24-2006 @ 1:02PM
Sheldon Stein said...
Lay was proven guilty, but unfortunately died before the appeal held up his verdi, so he is innocent. What a crock. I also understand that Lay bought a very large annuity for his wife after he was indicted and no one but she can touch it. Of course, she also doesn't have to be concerned about the 44 millions ( a bargain) that the gov't was to distribute to the workers. How many workers died from heart attacks and went into depresssion after Enron screwed everyone possible?
10-23-2006 @ 5:36PM
bill said...
I think 50 years is good with no chance of parole.
However I would also track down all his money and take that too.
He left thousands of people with nothing, their life saving gone.
10-23-2006 @ 5:32PM
ANDY WILSON said...
THE POLITICIANS ARE SCREWING US WORSE THAN ENRON,
YET WE KEEP VOTING THE BASTARDS IN.
VOTE FOR NON OF THE ABOVE..
FOR ALL CROOKED POLITICIANS..DEATH BY HANGING.
10-24-2006 @ 3:12PM
Alexander said...
Skilling destroyed 3,000 lives. He'll need more than 24 years of KY Jelly in jail for being such a big asshole.
10-23-2006 @ 5:36PM
Myzr Bankbaum said...
How can 1-4 years be reasonable 20 years ago for financial crimes (Milken and Boesky were the big villians in the 90's and got less than 10 years) and a man get 20 times the 80's average today... with no chance of parole serving 85% (20years). People don't understand how harsh punishment has become under the current federal sentencing laws that became effective in 1987. Everyone is also confusing civil liablity ( he's responsible as captain of the ship) with criminal responsibility where intent matters. And if the witnesses against you are offered leniency (serve 5 instead of 25), whose not going to lie to get the guy at the top and a "pass go" card. 10 years would have been plenty.
10-23-2006 @ 5:34PM
ellen said...
I didn't work for Enron but for a competitor company. I lost over $100,000 in my retirement account. All of the men responsible should not only face life in prison with no parole but should be forced to pay back everything people lost even if they themselves become destitute or die!
10-23-2006 @ 5:52PM
DOROTHY WULF said...
MR SKILLING SHOULD MAKE A PAYMENT TO ALL THE
WORKERS HE STOLE FROM. HE SHOULD GET 50 YEARS AND
NO PAROLE.
10-23-2006 @ 5:57PM
DOROTHY WULF said...
MR LAY'S FAMILY SHOULD BE MADE TO PAY ALL
THE EMPLOYEE;S MR LAY CHEATED.
10-23-2006 @ 5:57PM
AARON SCHWINGER said...
SKILLING HAS SHOWN NO REMORSE AT ALL. HE IS A CROOK IN EVERY SENSE OF THE WORD. AS A PRACTICING CERTIFIED PUBLIC ACCOUNTANT FOR ALMOST 50 YEARS, I FIND HIS DEFENSE AN ABOMINATION AND PROFESSED INNOCENCE AN INSULT TO EVERY DECENT LAW ABIDING CITIZEN. HE SHOWS NO CONCERN OR CARING FOR THE MYRIAD OF PEOPLE HIS AND LAYS'FRAUDULENT ACTIVITIES
HURT. I HOPE THEY TAKE ALL THE FUNDS HE STOLED
AND LEAVE HIM AND HIS WITHOUT EVEN A THIN DIME.
THE SAME PRINCIPLE SHOULD BE APPLIED TO THE FAMILY OF KENNETH LAY. THEY ARE EQUALLY RESPONSIBLE AND SHOULD BENEFIT IN ANY WAY.
10-23-2006 @ 5:57PM
jresh said...
He should have gotten one year for every billion dollars that disappeared, so I'm thinking a minimum of 60 years would do it.
10-23-2006 @ 5:57PM
MARY said...
I BELEIVE THAT HE SHOULD HAVE GOTTEN LIFE, AND HAS TO WORK IN THE JAIL TO PAY BACK EVERYONE WHOSE LOST MONEY. SOME OF THESE PEOPLE ALL THEY HAS WAS THAT MONEY AND IT WAS THERE LIFE SAVINGS.
I HOPE THAT THEY BEAT THE SHIT OUT OF HIM EACH AND EVERYDAY AND THAT THEY SERVE HE WORMS AND COWS BALL FOR HIS FOOD. HE DESERVES NOTHING. HE MUST BE A FOLLOWER OF SATAN AND HE WILL DIE IN HELL!!!!
10-23-2006 @ 5:57PM
Michael Polito said...
A effort should be made to recover money from his total wealth. If foreign accounts are discovered his sentence should be increased by 10 % for every family foreign account>
10-23-2006 @ 6:02PM
dave hayes said...
It seems a little steep when the average murderer gets around 4 to 6 years. I know a lot of people lost money, but for the most part they gained that money in a very short period of time. It was a paper gain and paper loss.
10-23-2006 @ 6:05PM
barbara said...
He not only should serve the rest of his life in prison, but be made to return to every employee the money they lost. May he sit there everyday and remember the tragedy he has cost so many innocent people. Let Justice be served!
10-23-2006 @ 6:10PM
m. w. said...
Everything that he acquired should be confiscated and put into a trust to benefit those employees that he cheated.
10-23-2006 @ 6:20PM
J Dianne Hagaen said...
All of the Enron RATS destroyed many peoples lives. I think the public has forgotten Arthur Andersen LLP, that was the auditing company involved with Enron at the time. Arthur Andersen LLP was a "Top Five Fortune 500 Company". We were completely shut down by the government and told we could no longer do auditing. Auditing was our principle service. All of our companies, all over the world, were shut down. 88,000 employees lost their jobs and ours doors were closed. Many of our employees had their whole working lifetime wrapped up in Andersen. Since then the government has backtracked and said
"Whoops, we made a mistake", Andersen was not guilty of any wrong doing. It's too late for us now, we have been closed for 5 years, our company is dead.
Andersen was the best and greatest company that I have ever worked for. I hate all of the sympathy that the public is giving to the Enron RATS!
All of the guilty deserve to spend the rest of their lives in prison with no parole. Death is the easy way out..
10-23-2006 @ 6:29PM
scott mantey said...
Every one of those pieces of trash should go to prison for the lives they screwed up and their family should not be able to have any of the ill gotten gain.All money recovered should go back to the people they stole from! If Skilling actually serves the time It'll be ok, except some other crook will help him out. Like that piece of shit judge who dropped Ken Lays charges. s. mantey fla.
10-23-2006 @ 6:32PM
patsy said...
He should be tortured in his pocket and family money as he has tortured those who lost it all.
He most likely has tons of money hidden for his family.
The biggest snake of alll times. He shows no humility. Why??