Skilling Gets 24 Years

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Former Enron CEO Jeffrey Skilling was handed a 24 year and 4 month prison sentence today.

U.S. District Judge Sim Lake ordered Skilling, 52, to home confinement, wearing an ankle monitor, and told the U.S. Bureau of Prisons to recommend when Skilling should report to prison. Lake recommended no date, but suggested Skilling be sent to the federal facility in Butler, N.C.

Skilling, insisting he was innocent yet remorseful in a two-hour hearing, was the last top former official to be punished for the accounting tricks and shady business deals that led to the loss of thousands of jobs, more than $60 billion in Enron stock and more than $2 billion in employee pension plans when Enron collapsed.

Lake denied Skilling's request for bond.

Skilling's term is the longest received by any Enron defendant; former chief financial officer Andrew Fastow was given a six-year term after cooperating with prosecutors and helping them secure Skilling's conviction.

Harsh sentence. It will not restore all that his victims lost, however. I know a number of them.

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4 Responses to Skilling Gets 24 Years

  1. Paul A'Barge says:

    Skilling gets 24 years. Lynn Stewart, the lawyer/sidekick/terrorist gets 28 months.

    How do you like your justice system now, Bippy?

  2. BubbaB says:

    Well, if you think about it, Ken Lay was given a life sentence… (Yes, I know, he hadn’t been sentenced, but you get the point…)

    On a side note, when I looked him up through Google, I saw this from the Washington Post:

    “The Washington Post’s Carrie Johnson discusses the public reaction to Enron founder Ken Lay’s sudden death and what it means to his fraud conviction.”

    Um, “what it means to his fraud conviction”? Do ya think maybe he ain’t worried about his fraud conviction anymore? What, the US government is going to demand his body, and leave him (literally) rotting in a jail cell?

  3. Gaius says:

    Actually, the judge nullified Lay’s conviction. That may make it more difficult to try and seize his assets.

  4. Pingback: CARRY ON AMERICA » Blog Archive » Skilling Sentenced as Seen Through the Eyes of Our Own Enron Trial Observer

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