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movie_girl99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:14 PM
Original message
Skilling sentenced to 24 years
Former Enron CEO Jeffrey Skilling has been sentenced to 24 years in prison for his role in one of the biggest corporate scandals in U.S. history, AP and Reuters report.
www.cnn.com
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BOSSHOG Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:15 PM
Response to Original message
1. Jailed for being a practicing republican - Sweet!
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MrCoffee Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:15 PM
Response to Original message
2. have fun in PRISON, asshole!!
hahahahahahhaaahahahahahahahahah
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:20 PM
Response to Reply #2
9. He ain't going to jail yet. He's out pending appeal.
And whaddaya wanna bet that his appeal will drag on, and on, and on, and BushCo will pardon him on the way out the door....
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Jacobin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:27 PM
Response to Reply #9
15. It'll be quite a while before he has to see the inside of ClubFed
And you are right. He's ripe for a pardon from der Fuerher
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quiet.american Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:30 PM
Response to Reply #9
17. Actually, bond was denied. Under house arrest until he reports to prison. n/t
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Kali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:49 PM
Response to Reply #17
21. oooo no shit?
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quiet.american Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:52 PM
Response to Reply #21
22. Uh-huh. Read all about it --
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.


http://www.nytimes.com/aponline/business/AP-Enron-Skill...

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Kali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 06:55 PM
Response to Reply #22
25. wow, this is good
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marions ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 07:19 PM
Response to Reply #22
27. That would be Butner, NC
Isn't Fastow or some other member of the gang at Butner? I know where that is. Sorta near Raleigh but still in the boonies. Looks very dull. Plenty of time to write that book.
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DoYouEverWonder Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 05:20 PM
Response to Reply #9
24. At least now
he's officially a convicted felon.

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ThomCat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:20 PM
Response to Reply #2
11. I doubt he'll end up in a real prison though.
He'll get assigned to some Club Fed somewhere. x(
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BreweryYardRat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 08:01 PM
Response to Reply #11
28. Yeah.
Dickhead should be in high security somewhere.
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BootinUp Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:15 PM
Response to Original message
3. Ouch, see ya Jeffy. n/t
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Rick Myers Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:17 PM
Response to Original message
4. Still screaming that he is innocent!!! No, you ARE not...
You have been FOUND GUILTY by a jury of YOUR PEERS! Like it or not, do the time, asshole!!!
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AllegroRondo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:18 PM
Response to Original message
5. I hope they fine his a** a couple hundred million also
and give that money to all the people whose lives he ruined.
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:18 PM
Response to Original message
6. He's gotta be bullshit--and figuring he's taking Lay's heat
More on the topic, here: http://www.bloomberg.com/apps/news?pid=20601087&sid=a_J...


Oct. 23 (Bloomberg) -- Jeffrey Skilling, Enron Corp.'s former chief executive officer, was sentenced to 24.3 years in prison for his role in the securities fraud...U.S. District Court Judge Sim Lake sentenced Skilling today at a hearing in Houston after listening to testimony of seven victims of the Enron fraud. A jury convicted Skilling, 52, in May on 19 counts of fraud, conspiracy and insider trading after a four-month trial. He faced a range of 24 to 30 years in prison.

``In terms of remorse your honor, I can't imagine more remorse,'' Skilling told Lake before he was sentenced. ``That being said your, your honor, I am innocent of these charges. I am innocent of every one of these charges.".....Kenneth Lay, Enron's former chairman, was convicted with Skilling of orchestrating a fraud that used off-the-books partnerships to hide debt and inflate income. Lay died from a heart attack at age 64 in July, before he could be sentenced. Lake voided Lay's conviction on Oct. 17, following federal law that requires such a dismissal when a defendant is unable to exercise his right to appeal.

Skilling, who received a master's degree from the Harvard Graduate School of Business, was allowed to remain free on $5 million bond after his conviction and has said he will appeal. Jurors acquitted him of nine additional counts of insider trading.....Last month, Andrew Fastow, Enron's former chief financial officer, was sentenced by U.S. District Judge Kenneth Hoyt to six years in prison for designing the off-the-books partnerships. Prosecutors said they may appeal the sentence because it was less than the 10 years he agreed to serve when he pleaded guilty.

Fastow, 44, testified against Lay and Skilling. During the trial, lawyers for the two men argued that prosecutors sought to criminalize normal business practices and that their clients were victims of thieving subordinates like Fastow.

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marions ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 08:25 PM
Response to Reply #6
29. hmmmm
you don't need to have remorse if you are completely innocent. Can't have it both ways Jeffy. No way that you look good, no matter what. Typical narcissist--they never understand what they did wrong and will deny it to the grave. Because they can do no wrong. Not a possibility. So whether he can be "corrected"--I doubt it.

:thumbsup: A reasonable sentence for what he did.

Does anyone think this will put a dent in this kind of crime? Will it act as a deterrent? Are sleezeball executives taking note or will they just go about bidness as usual?
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-24-06 02:42 PM
Response to Reply #29
30. Oh, absolutely. The sentence was spot on. But when you think that
the defendant is a guy who famously said "It's only arrogance if you're wrong" you've got to suspect that he's not a king of introspection on any given day, sentencing day included!

Sleazy executives will likely fault his defense and his choice of partners in crime. You need ones that won't have heart attacks before they are sentenced, and who are pissy little shits on the stand!

When Lay died, his "I was drunk and didn't know what I was doing, and besides, Kenny Boy called the shots" factor in mitigation kinda fell to pieces!
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MikeNearMcChord Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:19 PM
Response to Original message
7. Make it a maximum security prison also.
Time to make examples of corporate white collar criminals.
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stopbush Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:19 PM
Response to Original message
8. dupe
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Philosoraptor Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:20 PM
Response to Original message
10. Ha ha haa, ho ho ho, and a couple of tra la la's....
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Swamp Rat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:20 PM
Response to Original message
12. It's a good start.
Now to try Ken Lay in absentia and bankrupt the Lays.
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lies and propaganda Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:25 PM
Response to Original message
13. wonder if they'll pretend hes dead
and give the wifey all his stolen monies?
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Avalux Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:27 PM
Response to Original message
14. He gets to go home with an ankle bracelet.
No date when he's to report to jail. :eyes:
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:29 PM
Response to Reply #14
16. Nope, no ankle bracelet. Five million bucks bail, out pending appeal
You know that will take a year or more....
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Avalux Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:31 PM
Response to Reply #16
18. MSNBC says ankle bracelet - hmmm.......
BREAKING NEWS
Updated: 3:23 p.m. CT Oct 23, 2006

HOUSTON - Former Enron CEO Jeffrey Skilling, the most vilified figure from the most notorious financial scandal of the decade, was sentenced Monday to 24 years, four months in the harshest sentence yet in the case that came to symbolize corporate fraud in America.

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.

http://msnbc.msn.com/id/15389150/?GT1=8618
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quiet.american Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:35 PM
Response to Reply #18
19. The same is being reported in USA Today. n/t
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 04:41 PM
Response to Reply #18
20. Yep, you are right--I misread the Bloomberg article I cited above NT
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mnhtnbb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 05:16 PM
Response to Original message
23. Coming to Club Fed at Butner, NC
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-24-06 02:47 PM
Response to Reply #23
31. First link bit the dust--they moved it to here
http://money.cnn.com/2006/10/23/news/newsmakers/skillin...

Skilling's possible new home
FCI Butner, a medium security prison located in N.C., is also home to convicted spy, congressman.
By Chris Zappone, CNNMoney.com staff writer
October 24 2006: 11:42 AM EDT


NEW YORK (CNNMoney.com) -- If U.S. District Judge Sim Lake's suggestion holds, former Enron Chief Executive Jeffrey Skilling will see the start of the Thirties - the 2030s, that is - at a federal prison in North Carolina.

Lake recommended Monday that Skilling serve his 24-year sentence for fraud, conspiracy, insider trading and lying to auditors at a Federal Bureau of Prisons facility in Butner, N.C....Federal Correctional Institution Butner is located near the Research Triangle area of Durham, Raleigh, and Chapel Hill, according to the Federal Bureau of Prisons Web site.

The entire FCI Butner complex, which includes two medium-security prisons - one of which could be where Skilling's sent - alongside a satellite camp that houses minimum security prisoners, has an inmate population of 3,366 and a staff population of 959...Medium-security prisons have "strengthened perimeters" according to the bureau's Web site, which often include double fences with electronic detection systems, cell-style housing, "a wide variety of work and treatment programs."

Executives vs. the law
Current inmates in the prison include Jonathan Pollard, a former civilian Navy analyst serving a life sentence for passing classified information to Israel, and former Rep. Randy "Duke" Cunningham, R-Calif., who's serving a sentence for accepting bribes.

Jobs for inmates can include cutting grass, raking leaves; doing plumbing or painting; working in food services; cleaning bathrooms, showers, and buffing floors...the decision is ultimately up to the bureau. It may place Skilling somewhere else due to lack of space, among other reasons.


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bigwillq Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-23-06 06:57 PM
Response to Original message
26. Let's hope he doesn't die.
I want this scum to serve some time. :mad:
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