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Skilling's day approaches

Filed in archive corporate crime by leon on October 21, 2006

Skilling's day approaches
Ken Lay's conviction has been wiped, Andrew Fastow has won a reduced sentence and on Monday, it's Jeff Skilling's turn to face the judge.

Commentators are expecting that unlike Lay and Fastow, the former Enron CEO is not going to get off lightly. Indeed, what happened to Lay and Fastow might actually work against him. The betting is for a 20 to 30 year sentence plus financial penalties.

"In theory, the death of Ken Lay should have no impact on the sentence that Mr. Skilling receives. But it's hard to ignore the reality that Jeff Skilling is now standing alone as the figurehead who orchestrated Enron's demise. There will certainly be pressure to make an example of Jeff Skilling and send a message with his sentence,'' former federal prosecutor Robert Mintz told The Associated Press via the International Herald Tribune.

""I expect the judge will throw the book at Skilling. It's unlikely the judge will show any leniency because Skilling fought vigorously and is still proclaiming his innocence with no remorse," Jacoblinks Zamansky, principal of securities law firm Zamansky & Associates told CNN Money.

Douglas Berman's Sentencing Law and Policy blog raises some interesting questions that flow from Skilling's big day, including whether we can expect to see Judge Lake announce a sentence on the day or go off and write one, and whether Skilling will be granted bail pending an appeal. The big question, how long is he going to get, remains unanswered.

Meanwhile, California Democrat and member of the Senate Judiciary Committee Dianne Feinstein has written to Attorney General Alberto Gonzales, calling on the government to appeal the Lay ruling, reports the Houston Chronicle.






Permalink: Skilling's day approaches
Tags: Jeff  Skilling    sentencing  skilling  business  skilling+approaches  jeff+skilling  hedge+funds 

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