U.S. is considering reduced sentence for Enron's Skilling

[UnrepentantLiberal]

Source: Reuters

WASHINGTON - Former Enron Chief Executive Jeffrey Skilling, who is serving a 24-year sentence over the company's spectacular collapse, may get a chance to leave prison early.

The U.S. Department of Justice posted a notice indicating that prosecutors are considering entering an agreement with Skilling that could result in his being resentenced.

Wednesday's notice gives former Enron employees, stockholders and other victims of Skilling's fraud that led to Enron's 2001 bankruptcy a chance to object.

CNBC earlier reported the notice. It said Skilling's lawyers and the Justice Department were negotiating a reduced sentence.

Read more: http://www.reuters.com/article/2013/04/04/us-enron-skilling-sentencing-idUSBRE9330KP20130404

[geek tragedy]

1. Background:

Since the sentencing, Skilling's legal team has achieved some victories. In January 2009, the U.S. Court of Appeals for the 5th Circuit vacated Skilling's sentence on the grounds that the district court misapplied the federal sentencing guidelines. The next year, however, the U.S. Supreme Court held that the trial record didn't support a conviction on one of the prosecution's key theories - conspiracy to commit "honest services" wire fraud. But Skilling suffered a defeat last April, when the 5th Circuit upheld his conspiracy conviction and found this "honest services" error to be harmless.

http://www.chron.com/opinion/outlook/article/Five-years-later-Skilling-s-sentence-is-still-up-2219563.php

In other words, his old sentence was tossed out by the appeals courts because they considered it too harsh given the sentencing guidelines.

[indepat]

26. May Skilling revel in his freedom while DOJ lets Don Siegleman rot in prison after being

railroaded by a bogus, shameful vindictive right-wing witch hunt/vendetta in which countless Attorneys General have conveyed their opinion to DOJ the conviction was a wrongful conviction. Attorney General, imo, has turned a deaf ear to this blatant miscarriage of justice while, at the same time, the senior masterminds of massive Wall Street fraud remain un-indicted, all this making a complete mockery of the equal justice under the law doctrine.

[midnight]

29. That is curious isn't' it?

[Rhiannon12866]

32. +1000! Totally agree...

[Paul E Ester]

2. He can join Ken Lay in the witness protection program...nt

[Throd]

23. I've always contended that their is a dead hobo in Lay's casket.

Dying was way too convenient.

[Laurian]

3. Why does he get any reconsideration?

Sounds like preferential treatment to me.

I guess if you're connected enough to have high powered lawyers, you can get your sentence reduced. If not, you'd be forgotten and left in prison. Ahh, our wonderful justice system.

[geek tragedy]

4. Because a federal court said the original sentence

was improper.

[mrdmk]

6. People died during those 'the fix was in', Rolling Blackout here in California

But, but, but, white collar crimes are so hard to prove, we need witnesses...

Heard, that crap before!

[geek tragedy]

7. This guy was convicted. But the federal courts

said the sentencing was inconsistent with federal guidelines.

He wasn't shown any favors by the DoJ.

[Kolesar]

8. I didn't know people died

I recall that rate payers were screwed by tens of billions of dollars. It became income for Enron, then special bonuses and stock options for executives, who sold that stock and made a fortune.

Enron employees were frozen from selling stock in the 401k, so they got to see their nest eggs get crushed.

[aggiesal]

18. You're not far off . . .

It was $9B that Enron, Reliant, and one more I can't remember the name.
Gray Davis (Governor at the time) and Cruz Bustamante (Lieutenant Governor)
sued the 3 energy companies on behalf of the California citizens and won.

The Federal Energy Regulatory Commission agreed that the California citizen
were swindled out of $9B, but if they forced the energy companies to return
the money, they could go bankrupted. So FERC recommended that California
citizens get only 3%.

Both Davis and Bustamante said NO, we should get 100%.
So the Energy Companies met at the Peninsula Hotel in LA, and hatched
the Recall of Gray Davis. If they could get someone that supported the
energy industry as governor, then the governor could sign off on the 3%
recommendation from FERC, at which the case would be thrown out of
court.

So what happened? Gray Davis gets recalled. Ahhnold (backed by the
energy companies) becomes Governor. 2 days after taking office, Ahhhnold
signed the 3% agreement, and the court case was dropped.

Greg Palast has a great article that goes into great detail titled
"California Here We Come".
If you can find it, read it! It's a fantastic read.

[daleo]

31. When billions of dollars are stolen and/or misappropriated

Real people will suffer. Some will die - suicide, freezing to death, no money for medical care...

[Ash_F]

21. And federal courts can and are stacked with people who shouldn't be there. /nt

[alcibiades_mystery]

27. Yet oddly, you still don't have a choice about doing what they order you to do

[Ash_F]

28. And that's why it was so important that Obama got 8 years.

And that the next prez be a Dem with another 8 years. 9 to 1 the people responsible for this were Reagan and Bush Sr. drones.

[awoke_in_2003]

14. because he isn't brown skinned...

or poor.

[cstanleytech]

25. Nor a democrat.

[msanthrope]

17. By court order. nt

[AverageMe]

5. WTF Why??

The man is a crook who cheated customers, investors and pensioners out of millions of dollars, and this sends a terrible message. Keep him locked away for the full 24 years.

[Tender to the Bone]

9. Denied. Skilling will serve every single day of the sentence imposed on him.

No free rides, no nothing.

He has damaged California for years, and he has to be placed under arrest the minute he is freed and thrown to the Q hole for the rest of his life.

[leftyohiolib]

10. JUSTICE THE AMERCAN WAY

but if youre caught with medical mj then youre fucked

[Javaman]

11. Only corporate masters can fail up. nt

[JEB]

12. Why not? After all

Skilling helped create the business model that is currently in use by many of our corporations. Once out, he could do a bang up job at the SEC or some other faux regulatory agency. If you aren't for unregulated predatory capitalism, you are against us. USA, USA, USA.

[joanbarnes]

13. Early release so he can Murder (another corporation) again.

[awoke_in_2003]

15. reccing for exposure...

everyone, embrace the plutocracy.

[tout_le_monde]

16. Posse Up for Paraguay Anyone?

That's where the bush CRIME family compound is with kenny lay boy living there. That's where skilling will likely flee to if and when he's released from prison. No doubt, that fortress is protected by the likes of Blackwater/Xe et al...

[aggiesal]

19. Any documention? n/t

[Ash_F]

20. I wonder what kind of sentence someone would receive..

If they stole 9 billion dollars from Enron Execs.

[24601]

22. Ask Bernie Madoff - were any of his clients from Enron?

[Throd]

24. What is the proper legal term for "No, fuck that guy!"

[forestpath]

30. So not only won't the Obama administration go after corporate crooks, it

wants to let the ones that were already in jail out!