Feds want ex-Enron CEO(Skilling) to pay $183M - his plus Ken Lay's share

[Kadie]

Feds want ex-Enron CEO to pay $183M
By KRISTEN HAYS, AP Business Writer
5 minutes ago


HOUSTON - Federal prosecutors want former Enron Corp. CEO Jeffrey Skilling to turn over nearly $183 million for helping perpetuate one of the biggest business frauds in U.S. history — his alleged share and that of his late co-defendant, company founder Kenneth Lay.

The government had originally split that amount between the two former corporate titans, who were convicted in May of charges including fraud and conspiracy at the close of a four-month trial.

In late June, prosecutors asked U.S. District Judge Sim Lake to issue a money judgment ordering Skilling to pay $139.3 million, and Lay $43.5 million in proceeds the government contends they pocketed by conspiring to present an optimistic picture of Enron's health when they knew it was an illusion propped up by cooked books.

However, Lay died July 5 of heart disease. His lawyers have since filed court papers noting their intention to ask Lake to wipe Lay's record clean because he hadn't yet appealed his conviction or been sentenced. That would thwart the government's bid for a money judgment against him, but his assets could remain targets in civil litigation.

In a filing Friday, prosecutors responded to Skilling's opposition to the pricey proposed judgment by asking Lake to require the ex-CEO to pony up the entire $182.8 million.

more...
http://news.yahoo.com/s/ap/20060812/ap_on_re_us/enron_skilling_1

[bluestateguy]

1. Will that money go to the victims or down the government rathole?

Seems like a nice way for the feds to get a little extra cash for the Iraq War.

[Sherman A1]

2. To the victims would be far better, but

coming out of the thief's pocket, isn't bad even if it would just be set on fire and burned.

[MrCoffee]

3. I am still shocked that THIS Justice Dept is prosecuting the case.

[bluestateguy]

4. They're just putting on a show

I'm sure Bush will have the pardon ready on the morning of Inauguration Day in 2009. Meanwhile, Skilling can stall for time by dragging it out in appeals, and not spend a day in jail.

[MrCoffee]

5. Probably, but I'm still voting Hoynes.

[undergroundpanther]

6. Ain't gonna go to the folks that were robbed..

It'll go to the pig RICH people..again.