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Former Enron CEO Sentenced to 24 Years
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| Contributor | RP |
| Last Edited | RP Oct 23, 2006 09:20pm |
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| Category | Legal Ruling |
| Media | TV News - Public Broadcasting System PBS News |
| News Date | Monday, October 23, 2006 11:05:00 PM UTC0:0 |
| Description | U.S. District Judge Sim Lake handed out the harshest sentenced yet received in the Enron case, a case that has become synonymous with corporate fraud in America.
Enron was the world's largest energy-trading firm, worth more than $68 billion, and the United States' seventh-biggest company before its December 2001 bankruptcy eliminated more than 5,000 jobs and decimated more than $2 billion in pension plans.
A jury convicted Skilling, 52, in May on 19 of 28 charges, including fraud, conspiracy, insider trading and lying to auditors. Skilling was acquitted of nine charges of insider trading and has said that he plans to appeal the conviction. |
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