Enron's Skilling has spent $70 on legal fees.”million

[Ichingcarpenter]

There is Too Big to Jail – and now there is Too Big to Keep In Jail.

This is the envelope-pushing precedent being set by the Justice Department in its dealings with convicted Enron executive Jeffrey Skilling – a.k.a. one of the hucksters whose rip-off schemes were responsible for, among other things, losing more than $2 billion of retirees’ pension funds.

In a revised sentencing agreement announced late last week, federal prosecutors cited the “extraordinary resources” required to litigate Skilling’s appeals as justification for reducing his sentence by more than 10 years. NBC News reports that in exchange, “Skilling would give up all of his remaining rights to appeal” and “he also would give up any claims to the $40 million he was ordered to forfeit” to the Enron victims fund. Reuters notes that such a sum – which will be handed over to a “depleted” victims fund – “pales in comparison” to the “$70 million Skilling has spent on legal fees.”

In two ways, the circumstances of Skilling’s settlement show both the old and new double standards that plague America’s criminal justice system.

First and foremost, the case exemplifies the ancient-yet-still-deplorable double standards in how the system tends to treat rich defendants and poor defendants.

To see this particular double standard at work, consider the fact that, as Forbes reports, many of Skilling’s victims don’t support the settlement, even if it means recovering a tiny bit amount of money they lost. Then consider the fact that, as Businessweek notes, “There’s a good chance (the judge) will impose the minimum sentence under the deal in spite of victims’ objections.” Why? Because according to Jim DeVita, the white-collar defense lawyer who defended Tyco CEO Dennis Kozlowski, the judge will see no threat of a repeat crime (emphasis added):

“In a case of this nature, even though it involved the significant and monumental collapse of a company, 14 years is probably enough,” DeVita said. “For someone like Mr. Skilling, the likelihood of recidivism is nil — 14 years is more than enough to deter someone from doing that again.”



More:

http://www.salon.com/2013/05/13/our_enron_style_justice_system/

[hobbit709]

1. That's only a tiny fraction of what he and Enron stole from the people.

I'd say release him after he forfeits every penny of his assets.

[CanonRay]

2. Steal millions and then buy your way out of jail

An American tradition...

[Scuba]

3. No threat of repeat crime by Skilling, no deterrent to the next crook who thinks of such schemes.

[DetlefK]

4. I proposed it once, I propose it again:

1 year of mandatory jail-time for each $1,000,000 stolen, on top of all other penalties.

[rhett o rick]

5. He should have to forfeit all his wealth as restitution. nm

[Mr. David]

6. California agents should be ready to arrest him and bring him for trial

no bond, all assets forfeited to the state of California, and sentenced to life in prison without any chance of parole.

Yep, that's what he should get for screwing California and attempting (and still is) to get away with it.