Former Enron CEO Jeffrey Skilling gets prison sentence cut

[tpsbmam]

Source: NBC News

One of the chief architects of oil giant Enron's epic collapse, former CEO Jeffrey Skilling, got a get-out-of-jail-early card Friday in a deal cut with federal prosecutors for his role in one of the biggest corporate scandals ever.

Skilling's 24-year prison term was cut to 14 years. A federal appeals panel ruled in 2009 that the sentence handed down to Skilling, 59, by federal Judge Sim Lake three years earlier for fraud, insider trading and conspiracy was too harsh.

His resentencing was delayed several times as his attorneys negotiated an agreement with the Justice Department.

<snip>

Under the deal, more than $40 million of Skilling's fortune, which has been frozen since his conviction, will be distributed to victims of Enron's collapse.



Read more: http://www.nbcnews.com/business/former-enron-ceo-jeffrey-skilling-gets-prison-sentence-cut-6C10412326

[Vincardog]

1. The same mouth breathers who demand that there be MANDATORY minimum sentences for repeat

Drug "offenses" will applaud this decision. The Lesson?

Steal HUGE or stay home.

[deurbano]

3. And drug offenders often get their assets seized, right?

Why does this guy have the right to use his ill-gotten gains as a bargaining chip? (Instead of just having them seized and distributed to their rightful owners?)

[MindPilot]

7. He cost the citizens of California billions -- and continues to do so

That $40m is a little too little a little too late.

[okaawhatever]

15. Wasn't some of it taken up front? I thought they took the corporate money already, well, what was

left. I think the biggest answer to all of this is to have these companies insured for their investors. Ditto the oil pipelines and other projects that might leave the taxpayers and average citizens holding the bag.

[ruffburr]

2. If you had a pound of pot-

They'd be pipe-ing you sunlight once a week for longer. There is no justice -there's just us.

[GeorgeGist]

4. Thank Holder.

[e-mail]

[24601]

8. Certainly there is much to dislike about AG Holder; however, it was a federal appeals court

that ordered the sentence reduction.

[msanthrope]

16. Was Holder on the Federal Appeals Court that demanded a resentence? Try reading the article. nt

[Rebellious Republican]

5. I knew this was going to happen the day he was convicted!!!!!!!!

[MindPilot]

6. these guys should be treated the same as sex offenders--but with money.

They shouldn't be able to live within 1000 ft of any financial institution. They will not be allowed to have credit or checking accounts, all transactions must be cash and supervised and never more than $100.

[24601]

9. Or instead, when someone is convicted of violating a law, we could look at

what the law says about the range of penalties. Why would that not the default position of anyone posting on DU?

[jmowreader]

26. No, that's just stupid, and inconsistent with life in America today

I'd rather sentence them to never being able to hold a job that pays more than 200 percent of the federal poverty line.

[YeahSureRight]

10. In a truly just world JUSTICE will be issued while he is still in prison

at least one can hope.

[alcibiades_mystery]

22. Be more specific

What do you mean?

[awoke_in_2003]

11. Not so long ago...

a homeless man stole $200, felt guilty, and returned it the next day. He got sentenced to 14 years, if I remember correctly.

[blkmusclmachine]

12. Department of Injustice Strikes Again.

Holder's Gotta Go!

[okaawhatever]

17. This isn't about Holder. The federal judge thought the sentence was too harsh. The settlement

was to prevent Skillen from going to the Supreme Court. The agreement said he cannot appeal his conviction, or something like that. It didn't look like he was going to have to do any more time, and Obama didn't want a scotus decision with the yahoos sitting on the bench right now. It sucks, but I don't think he'd have ended up staying any longer.

[msanthrope]

18. How? Skilling won a resentence per the Federal Appeals Court. Was Holder

supposed to defy the court? Was he on the appeals court?

[blkmusclmachine]

13. DC is a racket.

[Jack Rabbit]

14. As a Californian, I didn't think it was harsh enough

What's the difference between California and the Titanic?
When the Titanic went down, the lights were on.

-- Jeff Skilling

[dickthegrouch]

19. Why isn't his entire fortune being used to make restitution?

I am one of those who would rather see him destitute for the rest of his life. And forced to repay every single cent of what he stole.

[Tx4obama]

20. Kick n/t

[PSPS]

21. This is the 1% version of US "justice."

[jollyreaper2112]

23. There's no justice

He should have gotten a life sentence for what he did. Manning is going to suffer far worse and he's a god damn patriot.

This asshole should have forefitted every asset and die alone and unloved in prison, his name a curse and a warning to other masters of the universe. "You try this shit, you'll get Skilling time."

This is a fucking joke. When you can't get justice from the courts, people will look for justice in the streets.

[Octafish]

24. When ya got money, ya got friends.

When ya don't have money...

[rhett o rick]

25. The $40 million is going to be distributed to victims. By the time the distribution

fee is extracted it will be peanuts. I am betting the victims would gladly forfeit the insulting peanuts for a long sentence.

I wonder if Pres Obama will pardon Ken Lay. Just sayin.