by Deb Cupples | Enron: the money lost by shareholders, employees, and creditors seems like peanuts after the Wall Street crises we watched unfold during 2008. It really wasn't peanuts, not to the people who lost most of their retirement funds. And the fraud was as extensive as it was creative.
In 2006, ex-Enron CEO Jeff Skilling was convicted of 19 counts of fraud, conspiracy, insider trading, and other things. Later that year, he was sentenced to more than 24 years in prison. (CNN)
A few days ago, a three-panel judge on the Fifth Circuit Court of Appeals upheld all of Skilling's convictions but decided that the lower court should reduce his sentence (likely to 15-20 years). The Houston Chronicle has a detailed article about it, which is worth reading.
Comments