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