A Louisiana appeals court upheld former Enron CEO Jeff Skilling's convctions, but ordered that he be resentenced because the judge made errors in applying sentencing guidelines.According (subscription required) to The Wall Street Journal, "The ruling likely means Mr. Skilling will see several years shaved off his current sentence of 24 years and four months." A former federal prosecutor told that newspaper that he expects that Skilling's sentence could be cut as much as nine years. A sentence of less than fifteen years would give Skilling quite a few years of life after the pokey, if he can keep his weight down and stay healthy: He looked a little bloated last I saw him.
Mr. Skilling's lawyer expressed disappointment with the ruling and vowed to fight his conviction all the way to the Supreme Court, if necessary. With issues of accounting fraud and corporate malfeasance back in sharp focus with the collapse of several financial institutions and the unraveling of the largest Ponzi scheme in history, Skilling's timing could not be any worse.
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
Reader Comments (Page 1 of 1)
1-07-2009 @ 11:37AM
BHarrison said...
If anything is done, Skilling's sentence should be INCREASED, not decreased. The impact of his fraud should be even more evident now, than it was at his original sentencing.
The timing is RIGHT for the resentences of Skilling; it is an opportunity to emphasize that society will not tolerate the type of white collar crimes that Skilling committed.