Tuesday, January 6, 2009
The Fifth Circuit affirmed former Enron CEO Jeff Skilling's conviction on 19 counts of fraud, etc., but agreed with his lawyer that the lower court committed error in sentencing him to 24 years and ordered the lower court to resentence Skilling. Skilling's attorney had argued on appeal that Skilling had been a loyal employee who worked for the company's benefit and thus could not have deprived the company of "honest services." This argument has prevailed in other Enron appeals before the 5th Circuit. WSJ, Court Orders Resentencing for Skilling.