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All it takes is a little patience. F. Scott Yeager, a former Enron executive, got some good news from the 5th Circuit Court of Appeals in New Orleans, which ruled that it wouldn't revisit his case. So, he no longer has criminal charges related to financial fraud hanging over him. Yeager has been acquitted on all counts. This follows a June ruling by the Supreme Court, which tossed a previous 5th Circuit Court ruling that could have resulted in a new trial.

The ruling said, "Today, ... it is clear under our initial ... analysis the jury made a finding in acquitting Yeager that precludes prosecution on insider trading and money laundering." Samuel Buffone, who was one of Yeager's attorneys, stated that his client shouldn't have been indicted to begin with and didn't do anything wrong. It has taken them seven years to get to this point.

Yeager landed in hot water because he sold stock in Enron for more than $54 million before it began the plunge that would ultimately end with its bankruptcy in 2001. He faced 125 counts, was acquitted of five (four for wire fraud and one for conspiracy to commit wire and securities fraud) and wound up with a hung jury for the remaining 120, which included insider trading and money laundering. He was later indicted again on 13 counts of insider trading and money laundering.

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Former Enron exec set free originally appeared on BloggingStocks on Wed, 21 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>arthur andersenArthurAndersencircuit courtsCircuitCourtscourtcriminalenronenronceofifth amendmentFifthAmendmentindictedindictmentinsider tradingInsiderTradinginthenewsjeff skillingjeff skilling appealjeffrey skillingJeffreySkillingJeffSkillingJeffSkillingAppeallitigationmoney launderingMoneyLaunderingscottyeagersecurities fraudSecuritiesFraudskillingsupreme courtSupremeCourtwire fraudWireFraudyeagerWed, 21 Oct 2009 16:40:00 EST<![CDATA[Ex-CEO Skilling of Enron gets prison delay]]>http://www.bloggingstocks.com/2006/12/12/ex-ceo-skilling-of-enron-gets-prison-delay/http://www.bloggingstocks.com/2006/12/12/ex-ceo-skilling-of-enron-gets-prison-delay/http://www.bloggingstocks.com/2006/12/12/ex-ceo-skilling-of-enron-gets-prison-delay/#commentsFiled under: , , , ,

The head of former energy trading company Enron, Jeffrey Skilling, has won a short delay in his request to report to prison. Skilling will begin serving a 24-year sentence on fraud and conspiracy charges soon. Originally, Skilling was supposed to report to prison today in Waseca, Minnesota at the low-security prison there. Waseca is 75 miles south of Minneapolis.

Skilling, quite naturally, is appealing his conviction. The 5th U.S. Circuit Court of Appeals in New Orleans delayed his reporting date yesterday, in order to allow enough time to consider a request for bail during Skilling's appeal. This was just in time to prevent Skilling from having to report to Waseca.

The delay -- according to the court -- was "solely to allow this court to give careful consideration to the request for bail pending appeal" based on text at the court's website. The court did not set a new prison report date yet. Skilling was planning to undergo alcohol and mental health counseling at Waseca. Completion of this would have taken an entire year off his sentence, and in addition, Skilling was looking to earn 54 days a year off his sentence for good behavior.

Do you think all the folks involved in the Enron scandal -- Lay, Skilling, Fastow -- deserved what they received? For Lay, some would argue he escaped easily by passing away before his sentence began. Fastow pleaded out and received a less steep sentence, and then Skilling became the highest-ranking executive in corporate America -- thus far -- to receive such a long prison sentence.

Ex-CEO Skilling of Enron gets prison delay originally appeared on BloggingStocks on Tue, 12 Dec 2006 09:02:00 EST. Please see our terms for use of feeds.

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