Whole Network Most Recent TOP10 Accounting Compliance Ethics SOX

 

Jeff Skilling's appeal

Filed in archive corporate crime by leon on April 04, 2008

skilling3.jpeg


Former Enron boss Jeffrey Skilling, who has been sentenced to 24 years in prison for insider trading and fraud, has begun his appeal against the sentence.

His lawyer, Dan Petrocelli, pleaded for his client to be released from a Minnesota prison, where he has been held since December 2006. The Houston Chronicle's Loren Steffy describes it as a lawyer's dance. And the lawyer, according to Steffy, is drawing a very long bow.

"Much of Petrocelli's argument centered on the legal provision known as "honest services" and whether it applies in this case. The argument is at odds with common sense. It basically says that Skilling isn't guilty because what he did benefited Enron, even if it was fraudulent. Therefore, he couldn't have deprived Enron of his 'honest services'. Skilling, Petrocelli said, 'acted in Enron's interests at all times.'.

Still, you could hardly say he was acting in shareholders' interests when, according to the charges, he was misleading shareholders and the investing public into believing the financial strength and security at a time when Enron was falling apart.

Still, the "honest services" argument might give his appeal a shot, says Kristen Hays in the Houston Chronicle. And if that happens, the Enron Task Force will be nothing more than a giant failure.


Advertisement


Permalink: Jeff Skilling's appeal
Tags: Jeff  Skilling  appeal  skilling  2007  jeff+skilling  skilling+appeal  conrad+black 

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/119106



Advertisement


Advertisement


CW ToolbarInstall
RSSrss   | See all blog subscribe options
Googlegoogle   |   What is RSS?
Yahoo!yahoo
AddthisAddThis Feed Button
BloglinesBloglines
Newsletter

Use our search feature to look for other interesting posts

Just this blog Whole network
 
Advertisement
Book yours here.



  • Other blogs in the same channel in the Creative Weblogging Network

Advertisement -
Book yours here..






Advertisement - Book yours here..
 
Tagcloud: Accounting boards of directors Compliance corporate crime corporate governance corporate reputation Ethics events executive pay litigation markets regulators risk shareholder activism SOX Sponsored Blog strategy