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January 21, 2009

Enron Chief Jeff Skilling's Conviction Upheld

The 5th Circuit has upheld Skilling's conviction but instructed the district court to re-compute the sentence.  Skilling has asked for a en banc hearing. The 104 page opinion can be accessed here. 

From the Opinion:

"Under the 2000 Sentencing Guidelines, Skilling had a base offense level of 6, which the district court subsequently enhanced to 40.  With a criminal history category of I, that yielded a sentencing range under the Guidelines of 292 to 365 months’ imprisonment.  Skilling objected to some of the enhancements at sentencing.  The court rejected those objections and sentenced Skilling at the bottom of the advisory range, or 292 months."

One of the enhancements was for obstruction of justice re his sale of Enron securities for his own account.  One was a "four-level enhancement for substantially jeopardizing the safety and soundness of a 'financial institution.'"  The court of appeals remanded for a further determination of whether there was a "financial institution," so this enhancement may go down a little. 

January 21, 2009 in Current Affairs | Permalink

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