Jeffery Skilling Convicted October 24
Today Jeffery Skilling got 24 years sentence for his role in the Enron
collapse. Unfortunately Kenneth Lay passed away before his appeals
were exhausted so his conviction was removed. That is interesting
legal concept that even though you were convicted, your conviction can
be removed upon your death if your appeals are not exhausted. This is
unfortunate for the Federal Government in this case since they were
trying to seize his assets based on the conviction. They can still
seize them, but they have to get in line with the rest of his
creditors. I hope they continue to pursue the seizure. I am glad
that white-collar criminals are being strongly prosecuted. If you
would like to learn more about the Enron collapse, you can read
Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of
Enron or check the documentary, Enron - The Smartest Guys in the Room,
based on the book.