Home Mail MemberMap Chat (0) Wallpapers
Go Back   ChiefsPlanet > The Lounge > D.C.

Reply
 
Thread Tools Display Modes
Old 05-13-2013, 10:29 AM  
gblowfish gblowfish is offline
Be Kind To Your Pets
 
gblowfish's Avatar
 
Join Date: Jun 2002
Location: Glorious Independence, MO
Casino cash: $3179894
Enron Slimeball May Get Off the Hook Early

http://www.cbsnews.com/8301-505123_1...rison-release/

Former Enron CEO Jeffrey Skilling could see years taken off his original prison term after the Justice Department said today that it has recommended reducing his sentence.

While U.S. District Judge Sim Lake of the Southern District of Texas must still approve the deal, the convicted felon could walk as early as 2017, meaning his 24-year sentence could be reduced by as much as 10 years.
The Judge set a sentencing hearing for June 21, 2013.

Both prosecutors and the government emphasized that $40 million in restitution, currently held up as Skilling pursued appeals, could be released to victims.

"Today's agreement will put an end to the legal battles surrounding this case," a Justice Department spokesman said in a statement. "Mr. Skilling will no longer be permitted to challenge his conviction for one of the most notorious frauds in American history, and victims of his crime will finally receive the more than $40 million in restitution they are owed.

This agreement ensures that Mr. Skilling will be appropriately punished for his crimes and that victims will finally receive the restitution they deserve."

The sentencing reduction was also presented as a milestone by Skilling's legal team. "The proposed agreement brings certainty and finality to a long and painful process," said Daniel Petrocelli, Skilling's lawyer and an attorney at O'Melveny and Myers.

"Although the recommended sentence for Jeff would still be more than double that for any other Enron defendant, all of whom have long been out of prison, he will have a chance to get back a meaningful part of his life."

Skilling, along with former CEO Kenneth Lay, transformed Enron into the world's largest energy trading company. Skilling took the reins of the company himself in February 2001, in the process reaping a salary of $132 million a year. But he resigned in August of the same year, citing personal reasons, and began selling massive amounts of Enron shares. The company went bankrupt in December 2001.

One of the largest accounting frauds in history, the debacle cost investors and employees billions of dollars, and resulted in the conviction and demise of its auditor, accounting firm Arthur Anderson, an ancillary disaster that also cost thousands of jobs.

Skilling and Lay were both indicted and convicted for securities fraud and other charges; Lay died before serving any time, while Skilling received a 24-year sentence of which he has served about six and a half years. He is housed at a low-security prison in Littleton, Colo.

In laying out the reasons for seeking to reduce the sentence, Justice Department lawyers cited first the fact that $40 million would be released to victims. That money has been held by the government while Skilling pursued his appeals. In addition to the fact that Skilling would give up all rights to challenge the the distribution of the money and any rights to appeal the case, DoJ noted that the case has been a long and costly one for the government.*

"If I were in the government, I would enter into this deal," said Wes Porter, a law professor at Golden Gate University who served as a Justice Department lawyer on the Enron Task Force.

"It doesn't give up much and Skilling still got a 13-year sentence, which is appropriate for what he did."

But Porter questioned whether the judge in the case would be so ready to accept the deal, even with the $40 million that would be released and the finality of the deal.

"The idea that 'It's been a long time and there's going to be more litigation' would not be persuasive to judges in most cases. It's possible that it may be to this judge in the Skilling case, but I think he will have questions about why he should accept it. It really requires him to go back in time and re-sentence Skilling, and I'm not sure the judge would see these as reasons to vary the sentence."

Porter was also surprised that the money has been tied up this long. "It's amazing that it didn't go to victims before," he said. "That it's still tied up in appeals and challenges after all this time is baffling to me."

2013 CBS Interactive Inc.. All Rights Reserved.
Posts: 26,340
gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.
  Reply With Quote
Old 05-13-2013, 10:34 AM   #2
Chief Gump Chief Gump is offline
Run dumb ass run
 
Chief Gump's Avatar
 

Join Date: Jun 2012
Casino cash: $12142
Could the judge just say f it and release the money and still keep him behind bars?
Posts: 437
Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.Chief Gump is not part of the Right 53.
  Reply With Quote
Old 05-13-2013, 10:36 AM   #3
Prison Bitch Prison Bitch is offline
The Bitch is back
 
Prison Bitch's Avatar
 

Join Date: Nov 2012
Location: Lees summit
Casino cash: $79398
He gave millions to the holocaust museum of Houston, they should have to pony that back up too. Everyone who ever got a dime from that bastard needs to cough it up and give it to the rightful owners.


If I steal your car, sell it, give the cash to United Way and then go to jail.....shoudln't the United Way give it back to you?
Posts: 12,321
Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.
  Reply With Quote
Old 05-13-2013, 10:42 AM   #4
InChiefsHell InChiefsHell is online now
Rockin' yer FACE OFF!
 
InChiefsHell's Avatar
 

Join Date: Feb 2003
Location: Omaha, Nebraska
Casino cash: $1083021
Quote:
Originally Posted by Prison Bitch View Post
He gave millions to the holocaust museum of Houston, they should have to pony that back up too. Everyone who ever got a dime from that bastard needs to cough it up and give it to the rightful owners.


If I steal your car, sell it, give the cash to United Way and then go to jail.....shoudln't the United Way give it back to you?
Unless they already used it. I don't think you can get it from them since they were not involved in it's ill gotten gains. No, you basically have to go after the actual thief. I think anyway.
__________________

We have a million reasons for failure, but not one excuse...
Die Donks, DIE!!

A quote:
"Oh well, there's always next year. We'll be better then, you'll see..." - Every Chiefs fan for the last 42...crap...43 years...

Quit listening to all that crappy new music and check out HEADSTRONG!
Posts: 12,584
InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.InChiefsHell is too fat/Omaha.
  Reply With Quote
Old 05-13-2013, 10:47 AM   #5
BigChiefTablet BigChiefTablet is offline
Veteran
 

Join Date: Oct 2010
Casino cash: $27813
They should have strung that guy up by his balls and taken every dime he had. There also should have been a lot more Enron employees in jail who participated in all kinds of criminal shit.

Let him out early? Only in a body bag.
Posts: 1,824
BigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby PiscitelliBigChiefTablet 's adopt a chief was Sabby Piscitelli
  Reply With Quote
Old 05-13-2013, 10:50 AM   #6
gblowfish gblowfish is offline
Be Kind To Your Pets
 
gblowfish's Avatar
 

Join Date: Jun 2002
Location: Glorious Independence, MO
Casino cash: $3179894
Kenny Lay was a graduate of the University of Missouri.
I'm so proud.
Posts: 26,340
gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.gblowfish is obviously part of the inner Circle.
  Reply With Quote
Old 05-13-2013, 12:11 PM   #7
Prison Bitch Prison Bitch is offline
The Bitch is back
 
Prison Bitch's Avatar
 

Join Date: Nov 2012
Location: Lees summit
Casino cash: $79398
Quote:
Originally Posted by InChiefsHell View Post
Unless they already used it. I don't think you can get it from them since they were not involved in it's ill gotten gains. No, you basically have to go after the actual thief. I think anyway.


That doesn't sound right. I am pretty sure that if you buy stolen property, you have to give it up. Surely the same rules apply to donations of stolen money.
Posts: 12,321
Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.Prison Bitch is too fat/Omaha.
  Reply With Quote
Old 05-13-2013, 12:16 PM   #8
theelusiveeightrop theelusiveeightrop is online now
Spiraling down the Drain
 
theelusiveeightrop's Avatar
 

Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $105658
William Devane says there is so much financial chaos in the world today, we should buy gold.
__________________
"We're both part of the same hypocrisy, Senator, but never think it applies to my family."
Posts: 19,004
theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -6. The time now is 06:25 AM.


Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.