Consider: Enron Skilling bankrupting thousands vs an Eco Activist
Oct. 23, 2006, 7:54PM
SKILLING GETS 24 YEARS IN PRISON FOR ENRON FRAUD; By TOM FOWLER
Copyright 2006 Houston Chronicle
Former Enron CEO Jeff Skilling was sentenced today to 24 years in prison for his role in the energy company's 2001 collapse in what has become one of the nation's biggest corporate scandals.
U.S. District Judge Sim Lake ordered Skilling to home confinement with an ankle bracelet to monitor his movements. He told the U.S. Bureau of Prisons to recommend when Skilling should report to prison and suggested he be sent to the federal facility in Butner, N.C.
"This is not an easy decision,'' Lake said. "Sentencing is the most difficult and least pleasant part of my job Mr. Skilling has a family who loves him.''
He added, however, "His crimes have imposed on hundreds if not thousands, a life sentence of poverty."
Lake's sentence, more precisely 292 months, also ordered Skilling to participate in alcohol and mental health programs. He also approved the forfeiture of $45 million to be distributed to Enron employees.
That money will be distributed via the civil shareholder case going on before U.S. District Judge Melinda Harmon.
Defense attorney Daniel Petrocelli argued for a 10-month reduction, so that the 52-year-old Skilling could serve at a lower-security prison. Lake refused.
Skilling's sentencing marks vindication for some and a capstone to an era of corporate crime for others.
Victims of the company's downfall hope it will provide a satisfying coda to their search for justice and retribution.
"I want him to see life without parole, for all the lies he told us and others," said Charles Prestwood, a former Enron pipeline employee who lost his pension.
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Headlines for May 24, 2007Democracy Now, NY - 19 minutes agoStanislaus Meyerhoff was arrested in 2005 and admitted to being a member of the Earth Liberation Front. Meyerhoff faced up to 30 years in prison, ...
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