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Non-Tech : The Enron Scandal - Unmoderated
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To: stockman_scott who wrote (3562)4/16/2012 2:19:59 PM
From: Glenn Petersen1 Recommendation   of 3602
 
Another setback for Jeff Skilling:

Supreme Court Rejects Former Enron Chief’s Latest Appeal

By PETER LATTMAN
DealBook
New York Times
April 16, 2012, 12:36 pm

The Supreme Court on Monday declined to hear the latest appeal by Jeffrey Skilling, the former chief executive of Enron serving a 24-year sentence in a federal prison for his role in the energy company’s collapse.
Without comment, the justices refused to grant Mr. Skilling’s challenge to a federal appeals court ruling that any error committed by the trial judge was “harmless.” The appeals court said that the jury was presented with “overwhelming evidence that Skilling conspired to commit securities fraud.”

Mr. Skilling and his colleague Kenneth L. Lay were convicted in 2006 of orchestrating the extensive accounting fraud that led to the energy company’s collapse. Mr. Lay died weeks after the trial ended.

Monday’s ruling deals a blow to Mr. Skilling, who in 2010 had received a favorable ruling from the Supreme Court. Then, the court had called into question Mr. Skilling’s fraud conviction on a legal theory called “honest services.” The court said the law, which makes it a crime “to deprive another of the intangible right of honest services,” was unconstitutionally vague.

But last April, the United States Court of Appeals for the Fifth Circuit ruled that Mr. Skilling’s conviction was not tainted by the prosecutors’ use of the honest services fraud theory. Mr. Skilling was convicted on 19 counts of fraud, conspiracy and insider trading.

There is one last hope for Mr. Skilling. He still could have his sentence shortened to correct an earlier error in the case.

dealbook.nytimes.com
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