BusinessCompany NewsEnron’s ex-CEO Skilling gets 24-year sentence

Enron's ex-CEO Skilling gets 24-year sentence

Judge bestows a sentence of almost a quarter of a century on defunct energy giant's former chief exec

Jeffrey
Skilling,
former CEO of the collapsed energy giant
Enron was sentenced to
nearly 25 years in prison for his part in the Enron scandal.

Judge Sim Lake handed down a punishment of 24 years and four months at the
federal courthouse in Houston, after hearing the testimonies of the energy
giant’s former staff members.

Before learning his fate, Skilling who had previously showed no signs of
remorse said to the court: ‘In terms remorse your honour, I can’t imagine more
remorse. That being said your honour I am innocent of these charges. I am
innocent of every one of these charges.’

In May, Skilling was convicted on 19 counts of fraud, conspiracy, insider
trading and lying to auditors. Enron’s former CFO Andrew
Fastow’s
turn as the star witness for the prosecution was instrumental in
securing the verdict.

Before imposing sentence Judge Lake stated: ‘Mr Skilling and his attorneys
argue that the guideline range would be tantamount to life in prison. But as
many victims of his crime have so many poignantly explained, his crimes have
imposed on them a life sentence of poverty.’

Surprisingly, Judge Lake approved an appeal from Skilling that he be given at
least a month before he is taken to prison. Outside the courthouse, Skilling
vowed to appeal his sentence and continued to proclaim his innocence. ‘I’ll be
vindicated,’ he said.

Related links:

Lay’s Enron conviction to be overturned

Fastow to detail banks’ involvement in
Enron

Payments to deceased Enron exec to be returned

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor