Skilling’s Sentence: 24 Years, 4 months
Former Enron executive Jeff Skilling has been sentenced to 24 years and four months in prison. Judge Sim Lake today set investor loss tied to Skilling’s actions at $80 million, which he relied on to set Skilling’s sentence under new, tougher federal guidelines. With that figure, Skilling faced between 24.3 years to 30.4 years in prison. Here’s the Wall Street Journal Online story.
He was ordered immediately to home confinement. Skilling will serve his time at the Federal Correctional Center in Butner, N.C., which is located near the Research Triangle area of Durham, Raleigh, and Chapel Hill.
Here’s a sampling of some other white-collar sentences recently meted out. The sentences are largely based on the estimated loss that the accounting frauds caused investors — the greater the investor loss, the harsher the penalty. The relatively light sentences of Enron’s former CFO Andrew Fastow and WorldCom’s former CFO Scott Sullivan reflect their levels of cooperation with federal prosecutors:
Bernard Ebbers, CEO, WorldCom: 25 years in prison
Scott Sullivan, CFO, WorldCom: 5 years in prison
Andrew Fastow, CFO, Enron: 6 years in prison, 2 years community service
Dennis Kozlowski CEO, Tyco: 8 1/3 to 25 years in prison
Mark Swartz, CFO, Tyco: 8 1/3 to 25 years in prison
Jamie Olis, midlevel executive, Dynegy: 6 years in prison, reduced from initial sentence of 24 years
John Rigas, Founder, Adelphia: 15 years in prison (reduced due to poor health)
Timothy Rigas, CFO, Adelphia: 20 years in prison
http://blogs.wsj.com/law/2006/10/23/skillings-sentence-24-years-4-months/
And Skilling should have gotten a much longer sentence IMHO!
1 comment:
To bad he didn't have good friends like the Bush family so he could play dead too. Left all alone to do the time and still he doesn't except the fact he stole people's money and left many retirees broke. Yes Kenny boy is living large but time has a way of changing that too.
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