Enron victims concerned by former CEO’s (Skilling) possible early prison release
An attorney who represented victims in the Enron scandal said his former clients were concerned by news that former CEO Jeff Skilling is working with the Justice Department on a deal for early release.
“It’s stunning that somebody who robs a bank of a couple thousand dollars could end up spending more time (in prison) than someone like Jeff Skilling, who a lot of people believe should be in the corporate hall of shame,” said Andrew Stoltmann, a Chicago-based securities attorney who represented 10 victims of the Enron scandal. “If Skilling ends up serving less than a decade, I think that undoes a lot of the deterrent impact that Judge [Sim Lake's] original sentence had and that’s unfortunate.”
An announcement on the Justice Department website says Skilling’s 24-year sentence may be shortened through a settlement agreement. A reduction in his sentence has long been expected because court rulings said it was too harsh. Skilling, who has served six years in prison, was convicted in 2006 of conspiracy, fraud and insider trading for his role in the energy giant’s epic collapse.
“The Department of Justice is considering entering into a sentencing agreement with the defendant in this matter,” the notice reads. “Such a sentencing agreement could restrict the parties and the Court from recommending, arguing for, or imposing certain sentences or conditions of confinement. It could also restrict the parties from challenging certain issues on appeal, including the sentence ultimately imposed by the Court at a future sentencing hearing.”
More at http://fuelfix.com/blog/2013/04/04/report-deal-in-works-could-shorten-former-enron-execs-prison-term/ .
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