Jeff Skilling Sentenced to 24 Years (Enron CEO)

WCHS Portland ^ | October 23, 2006

[Lunatic Fringe]

Breaking

[Hydroshock]

I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire. Thsi sentence is way to short.

[No Truce With Kings]

He could always get the sentance vacated by appealing and then dropping dead.

[38special]

Yes, but Fastow sang.

[Tolsti]

I heard he was thinking of offing himself. He might've been better off, since he'll die in prison now.

[Alberta's Child]

A friend of mine who was very astute about these things once pointed out that the Federal government will pursue perpetrators of financial crimes with an intensity that they don't have when it comes to any other crimes -- even murder.

[pillut48]

Unless he tries the Ken Lay way to avoid jail time...

[wideawake]

I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire.

If they hadn't made the most unintelligent retirement decision than anyone can make, Jeff Skilling couldn't have hurt them.

They decided to make themselves vulnerable by putting all their retirement eggs in one basket.

Their retirement situation is almost entirely their own fault.

My employer's stock constitutes less than 8% of my investments - if my employer turned out to be run by even worse crooks than Skilling, Lay and Fastow I would still be just fine.

If you don't diversify, you are begging for financial trouble.

[wagglebee]

The whole 1/3 of the sentence thing is long gone, I think today under Federal guidelines the minimum is 80% and I believe anything over twenty years means low security rather than a minimum security "camp."

[Diddle E. Squat]

20 years on average for a murder 24 years for financial fraud ... sounds to me like there was more than just a little bit of emotion in the sentencing.

Or a sentence reflecting a logical accounting of the (literally) thousands of persons who lost most of their savings as a result of Enron's illegalities.

Perhaps murderers should spend more time in jail, instead of watering down the penalty for committing a host of illegalities and frauds.

[reagan_fanatic]

Most murderers get off in less

I agree. There's something wrong with a system in which a murderer gets less of a sentence than a white collar criminal.

[K-oneTexas]

It is amazing that the Feds were not really able to prove their case without Fastow. He created all the corporations and no one from what I read could decipher his doings. Except him, very convoluted. And he gets the "tap on the wrist" for a sentence.

[Alberta's Child]

Anyone who has 75% of their retirement assets invested in shares of a single company is asking for trouble and deserves no sympathy.

Most people who got screwed in the Enron fraud were stupid, greedy, or both.

[wagglebee]

I agree, the problem is that murderers are even released at all, not that people who defraud thousands of their life savings are given 24 years.

[wideawake]

He's a healthy, trim 52.

He will not be put in stir among violent criminals but will be among his own kind - tax-cheats, fraudsters, etc.

He could easily make it to age 76 as long as he has support from his family and occupies his time in some worthwhile capacity.

[Rockitz]

I didn't see any monetary fine for his role in this sham. Was that released previously?

[Prost1]

Murders should get death.

And people who destroy the life savings of millions of hard working people deserve death as well.

I would shoot the B**t$$d!

And the Dot.com culprits as well.

[wideawake]

The only people who were defrauded of their life's savings were people who wanted to be defrauded of their life's savings - people who were utterly negligent of their retirements.

[wagglebee]

IIRC, Most of the Enron employees didn't have any say in where their money was invested, and when the company was collapsing they were prohibited from pulling their money out.

[shuckmaster]

Skilling was convicted of one count of conspiracy, 12 counts of securities fraud, five counts of making false statements and one count of insider trading. Commit that many separate murders and I bet you get over 24 years...

[taxcontrol]

Skilling's indictment was for:

10 counts of insider trading;
15 counts of securities fraud;
4 counts of wire fraud;
6 counts of making false statements to auditors,
and one count of conspiracy to commit wire and securities fraud.