Enron's Skilling Heads Back to Supreme Court

[LeighAnn]

Source: CNBC

Nearly five years after being sent to prison for his role in the most notorious corporate collapse of all time, former Enron CEO Jeffrey Skilling is taking his case back to the Supreme Court.

The high court last year ordered a federal appeals court to reconsider his conviction, but the appeals court upheld the conviction in April, and last week denied Skilling's request for another hearing. But on Wednesday the appeals court agreed to stay its ruling to allow Skilling to go back to the Supreme Court.

At issue is the government's contention during Skilling's trial that he deprived Enron's shareholders of their right to his "honest services" as CEO. The Supreme Court ruled that was an overly broad interpretation of the law, and ordered the case back to the Fifth Circuit Court of Appeals for review.

But a three-judge appellate panel ruled the error was "harmless," since it was not clear jurors relied on that theory when they convicted Skilling on 19 criminal counts in 2006.

Read more: http://www.cnbc.com/id/44442216

[bluestateguy]

1. This guy is never going to accept responsibility for what he did wrong, is he?

He needs to shut is mouth, apologize, and serve his time.

[Proletariatprincess]

3. Exactly right...

and the Supreme court doesn't suprise when it comes to rich white guys appealing their convictions. Sociopaths...all of them.

[No Elephants]

4. I;m never going to accept Lay happened to have a heart attack, either.

So, I guess I am as stubborn as Skilling.

I never fleeced employees out of their pensions, though, so I guess I'm nowhere near as sociopathic as is Skilling.

[Blue_Tires]

11. +1

[Demeter]

9. Maybe IF His Money Runs Out

Appealing to the Supremes isn't cheap. I doubt that they are doing it pro bono, still, given their corporate-loving nature, they could be donating to his defense fund...

[Divernan]

2. Curious to see how Obama's appointees vote on this one.

Here's the USSC opinion
http://www.supremecourt.gov/opinions/09pdf/08-1394.pdf


The justices had many points of disagreement in this 2009 opinion, witness a 3 part opinion by Ginsburg, with different Justices joining her in each part, plus separate opinions concurring in part and dissenting in part by Scalia, Alito and Sotomayor. Skilling is only 57, and only 5 years in to his 24 year sentence. He was found:

* guilty on one count of conspiracy
* guilty on one count of insider trading
* guilty on five counts of making false statements to auditors
* guilty on twelve counts of securities fraud
* not guilty on nine counts of insider trading

[defendandprotect]

5. K/R ---

[90-percent]

6. 24 years in prison

If I were in that position, I would use every single resource available to get out. However, these guys have millions in money they gained by corrupt means. I would exhaust my net worth in fairly short order, as a pensionless baby boomer. They can go the $300 per hour law route for years upon years.

In Skilling's case, contrition may be the only way to reduce his sentence. He seems to be years away from even considering that as a possibility. Self imposed exile by means of greed and stupidity. They show a shitload of compassion for most white collar people that are contrite. (fact check suggested for this point.)

-90% Jimmy

[Cool Logic]

7. Now, if only they would send someone to jail for looting the SSTF...

[MADem]

8. I still retain an image in my head of Ken Lay, lounging on a beach chair in Fiji or somewhere...

I mean, really--was that a convenient shuffle off this mortal coil, or what? And because he didn't finish the conviction process, he wasn't convicted. He died a technical innocent.

[bongbong]

10. USA!

How many individuals get the SCOTUS to hear their case not once, but twice?

USA! USA! USA! CSA! CSA! CSA!

(CSA = Corporate States of America)