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Former Enron execs Ken Lay and Jeffrey Skilling found guilty (Merged)


frankbones

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These cases always scare me, because the trial is always highly publicized, and the jury finds them guilty. Then of course they appeal, and the next trial gets next to no press coverage and then you find out their sentences were either over-turned or severely reduced....I am crossing my fingers that the sentences stand though.

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A rousing success for the Bush Justice Dept.

Im certain the credit will be given where it is due.

(crickets)

Considering they were buds, I wonder if Dubya will visit Kenny Boy in prison.

Might be a little awkward. "I gave your campaign 600 grand and this is how you reward me?!"

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Jury Convicts Enron's Skilling and Lay

HOUSTON, May 25 -- A federal jury today convicted former Enron Corp. top executives Jeffrey K. Skilling and Kenneth L. Lay of multiple fraud charges, writing a powerful coda to the government's four-year-old push to hold executives accountable for wrongdoing on their watch.

In a separate case, U.S. District Judge Simeon T. Lake III found Lay guilty on four charges of bank fraud.

Skilling, 52, and Lay, 64, once stood near the pinnacle of American business, as the energy trading powerhouse they created out of a stodgy pipeline company grew to become the nation's seventh largest public company. But their fortunes collapsed in a heap along with the business in December 2001.

Now the two men, who together invested close to $70 million in their defense, face the possibility of spending the rest of their lives in prison and living in history as the ringleaders of a fraud at a company whose name became synonymous with accounting tricks and rule-breaking.

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My 1,000th post! What a great way to get it!

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Apparently Lay faces a max sentence of 165 years in prison, Skilling 185. I don't know what the minimum sentences are, but Skilling was convicted of 19 seperate counts, and Lay on at least 8, so they should be substantial.

Sentencing is on September 11.

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These cases always scare me, because the trial is always highly publicized, and the jury finds them guilty. Then of course they appeal, and the next trial gets next to no press coverage and then you find out their sentences were either over-turned or severely reduced....I am crossing my fingers that the sentences stand though.

Obviously they go through an appeals process, but I wonder if they are a flight risk now? :D I mean the maximum sentence is 155 years right?

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Considering they were buds, I wonder if Dubya will visit Kenny Boy in prison.

Might be a little awkward. "I gave your campaign 600 grand and this is how you reward me?!"

I got $100 that says Dubya gives him a presidential pardon on his last day of his term.

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